What In The Final Tax Bill Can Affect Your Housing Costs?
Three days before Christmas 2017, President Donald Trump signed the Tax Cuts and Jobs Act into law. The bitter political fights that led up to the bill's passage may be over, but the work of interpreting the legislation has just begun.
So what does it all mean for housing? For some homeowners, net after tax housing costs will increase under the new law. Renting may become relatively more attractive for those on the fence about becoming homeowners. And people still determined to buy may find the supply of homes on the market has dried up. How exactly the tax overhaul will affect you and your housing options will depend on where you live, how much you spent (or can spend) on your home and how much the bill decreases (or increases) your overall tax burden.