Quote:
Originally Posted by Rain Man
It seems like the tax plan should push stock prices up, though much of that may have already happened on speculation.
I've been pondering pulling a big chunk out to buy some real estate, and will be looking at a property in the next week or so. I worry that I'm going to miss a tax bill runup if I do, but I also feel like the stock market will at some point cool off. It's been, what, a seven-year run?
|
Is now the time to mention that the tax plan will negatively affect housing prices, most likely, especially in higher tax states, due to the cap on mortgage deduction and SALT, including real property taxes?
May not affect you depending on your property location and/or what type of property this is. If the property is for renting, then you should be safe. Not like 1031 like-kind exchanges are being negatively affected or anything. But if it was a buy, fix-it-up and flip situation, that market might cool off at the higher end of the price range.