fha mortgage loans, local mortgage broker, midwest family lending

(515) 252-7107

APPLY NOW!

Mortgage Industry News

« Return to Mortgage Industry News

Tax Cut Effects on Housing Still Debatable

Thursday, April 12, 2018

As Americans are nearing the deadline to file their 2017 federal income tax return, what this will put on their 2018 return is still open to debate.  The effects of the Tax Cuts and Jobs Act, passed by Congress in December was, in the words of CoreLogic's chief economist Frank Nothaft, "the largest change to the U.S. tax code in more than three decades," one that "has touched every person and industry." He recently looked at how it might affect tax-related housing decisions made by families. The bill, he says, has lowered personal income taxes in the aggregate, but not necessarily for every taxpayer.  An increase in after-tax income does increase, at least in general, the amount spent on shelter and thus the likelihood of being a homeowner - what economists call the 'income effect." 

Read Full Article

Testimonial

You have been awesome to work with from the beginning and between you, mike, and holly, this whole process has really been quite easy. I would imagine that is not the case for everyone so again, thank you so much for being so helpful each and every step of the way.
Ryan and Kelsey