Manhattan home resales drop as tax overhaul sidelines buyers

The federal tax overhaul, which limits state, local and property tax deductions to US$10,000, was predicted to disproportionately affect homeowners in high-priced housing markets such as New York. Homeowners likely won’t notice the changes until 2019 taxes are filed, but the policy is already putting downward pressure on home prices, as the.

The companies say that sales are falling as potential buyers wait on the sidelines for the market to stabilize. overall more competitive market environment as resale inventories increase and.

NYC real estate continues to fall President Bush, mindful of the political costs his father paid in 1992 for a weak economy, has offered a plan made up mostly of tax cuts. electronics and home appliances went down by 0.5 percent.

Manhattan home resales fell in the fourth quarter as buyers wavered ahead of the expected tax overhaul and stood firm in their refusal to overpay.

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Manhattan Home Resales Tumble as Trump Tax Overhaul Sidelines Buyers. Buyers who did commit to a purchase held out for the best deal. More than 88 percent of homes that changed hands in the quarter did so at or below the asking price, the firms said. Resellers offered discounts of 5.7 percent on average, compared with 4.5 percent a year earlier. The median price for resales was $916,425, up 1.8 percent.

This recent tax legislation is a good example: liberals made a legitimate point that it could have been skewed more to the middle class. Where they went off the wall was when they criticized lowering the corporate tax rate and this was totally ridiculous given that the US had the highest corporate tax rate among the major industrialized nations.

Manhattan home resales fell in the fourth quarter as buyers wavered ahead of the expected tax overhaul and stood firm in their refusal to overpay.. Sales of previously owned condos and co-ops dropped 11 percent from a.

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