TaxProf Blog

Editor: Paul L. Caron, Dean
Pepperdine University School of Law

Wednesday, May 9, 2018

Ryznar: Tax Reform On Homeownership

Margaret Ryznar (Indiana-Indianapolis), Tax Reform on Homeownership, 72 U. Miami L. Rev. ___ (2018):

Homeownership is more than just an American dream. In reality, homeownership is a savings vehicle. However, the 2017 tax legislation reduced the tax support for homeownership. The tax reform targeting housing, such as curtailing the deductions for mortgage interest and state and local taxes, frustrates the American public policy of encouraging homeownership.

Yet, there are many reasons that the public policy position in the United States for decades has been to encourage homeownership, including that homeownership is an important savings tool for Americans—and tax reform should be mindful of it.

http://taxprof.typepad.com/taxprof_blog/2018/05/ryznar-tax-reform-on-homeownership.html

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Comments

And yet

Million-Dollar Home Values Gain Even as Tax Deductions Shrink
Posted: May 9, 2018, 10:56 AM EDT
By Steve Matthews and Prashant Gopal
Adam Blaylock was pretty sure he overpriced his Santa Clara, California, home by offering it in February for $1.48 million, since tax deduction changes would keep buyers away. But within a week, the 1,280-square-foot ranch-style house was in contract for $155,000 above asking.

Posted by: Champ | May 9, 2018 11:17:00 AM