When it comes to real estate, some legal experts suggest that the massive tax overhaul could have some unintended consequences, including discouraging homeownership and slowing the pace of home appreciation. Here’s how the new law affects homeowners:
- Lower limits on mortgage interest deductions
- Limits on state and local tax (SALT) deductions to a $10,000
- Standard deduction doubled
- Home equity loan advantages gone: That deduction is gone and everyone with a home equity loan will be
- Most relocation deductions eliminated