• Merrill on Housing

    11 monthes ago - By Calculated Risk

    A few brief excerpts on taxes from a note by Merrill Lynch economist Michelle Meyer: Housing: the top five questions .
    How does the tax legislation impact the housing market?
    On the one hand, tax reform is supportive of the housing market as it increases disposable income for households. The average household will see tax-home pay increase by $1,610 this year according to the Joint Committee of Taxation, which helps affordability and increases confidence.
    On the other hand, it reduces the incentive for homeownership by doubling the standard deduction, reducing the cap for the mortgage...
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