Y'all are a bunch of wankers!

Housing Slowdown

https://www.google.com/amp/s/www.marketwatch.com/amp/story/guid/5038160C-9C1F-11E8-A46C-BBDE1A6795F5

https://news.ycombinator.com/item?id=17737314

There are all sorts of reasons that house sales slow down, not the least of which are reduced tax benefits, higher interest rates, and a general market forces.

The upcoming changes in the tax code certainly did not help the housing market:
- The new SALT cap is extremely low, particularly if you own a home in the Bay Area. 10K! Mitigative solution: Stay put and keep current tax base, hampering both supply and demand (for a nicer home)
- The doubled standard deduction made owning with a mortgage less attractive (But a win overall once your loan is paid off enough).

- Mortgage interest deduction lowered from 1M to 750K (I believe it's 1/2 if you're buying alone). Houses are so expensive here this actually matters. On the supply side: More post-tax money + higher interest rates means those who locked into great rates won't want to sell, or want to buy a more expensive home. On the demand side: All of the above means everything just got even more expensive.
Permalink Tax Man 
August 10th, 2018 8:41pm
I've seen a few houses on zillow and realtor.com where the seller has dropped their offer.

In this market, that's very unusual.

Unless the house was next to a rail line or other undesirable feature.
Permalink xampl9 
August 11th, 2018 9:45pm