Republicans’ tax bill is set to disproportionately affect homeowners in affluent parts of the US.
Wealthier households are more likely to take advantage of key tax breaks that could be downsized, including the mortgage interest deduction and the state and local tax, or SALT, deduction.
Though this could weaken buying activity and prices, the high end of the housing market is also the smallest by share.
Most states that would be most affected also happen to be blue states. They include New York, California, Connecticut, and Hawaii.
Read the full article at the Business Insider.