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TAX REFORM DID NOT KILL THE LUXURY REAL ESTATE MARKET
“The impact on expensive homes could be detrimental, with a limit on the MID raising taxes for those that itemize.”
Mark Zandi of Moody’s Analytics:
“The impact on house prices is much greater for higher-priced homes, especially in parts of the country where incomes are higher and there are thus a disproportionate number of itemizers, and where homeowners have big mortgages and property tax bills.”
What has actually happened?
“Median home values nationally rose 8 percent in March compared with a year earlier, while neighborhoods of San Francisco and San Jose, California, have increased more than 25 percent.
Prices in affluent areas in Delaware and New York, such as the Hamptons, also surged more than 20 percent.”
“We are seeing the opposite of what was expected. We have certainly not seen the doomsday predictions play out.”
My name is Manny Quiros, I’m a real estate professional in the “Disney Area”, I have lived in this area since 1999 and have called this area my home and place my wife and I to raise our three wo....