CDZ CNBC a Really Confusing Read on Real Estate

[william the wie]

The various stories on the tax bill and Manhattan real estate disagree with each other. The tax migration may account for dropping prices towards the end of last year but it will make a comeback

However tax migration will not really kick in for 1-2 years.

The inventory of used and new condos for sale is increasing.

But wait there's more only I have a low tolerance oxymoronic reporting and other people on the board may wish to crawl through those reports to find their own howlers. Happy hunting.

 

[william the wie]

A really big surprise for me was that Fox Business had the most lucid explanation I've seen of the driving force of migration so far. With a mortgage deductibility of $750,000 and a 20% down payment $937,500 is the most you can pay and still deduct fully deduct mortgage costs. With the SALT deduction provision capped at $10,000 real estate will decline by 6-10% which means most of the blue states can:

1) Reduce tax rates
2) Reduce their tax base through out migration
3) Proactively reduce expenses
4) Be turned out of office
5) Go into default
6) Face massive tax revolts

Or of course two or more of the above.

@DarkFury,JimBowie1958,