In a new survey of 600 Americans, 85 percent of respondents said they plan on deducting mortgage interest and property taxes if they purchased a new home.
If the deductions are changed or cut in the Republican tax plan, 48 percent of survey respondents say they would experience “financial strain,” and 30 percent would want to stay in their current home, and feel discouraged from selling. The National Association of Realtors’ quarterly survey will be released in full next week, per MarketWatch.
The Realtors have vigorously opposed changes to the tax laws they say would slash the value of homes and raise taxes on the middle class. Meanwhile, the housing market remains constrained by a lack of inventory, hardly an ideal environment in which to further restrict mobility.
