Kevin Hassett, chairman of the Council of Economic Advisers, speaks during the daily press briefing at the White House, Monday, Sept. 10, 2018, in Washington.White House Council of Economic Advisers Chairman Kevin Hassett said Tuesday he hasn't seen any effect on the housing market following 2017 tax law changes.A recent report from the Federal Reserve Bank of New York showed the Tax Cut and Jobs Act has contributed to slowing activity through new deduction caps and other policy changes.
The Tax Cuts and Jobs Act was expected to increase after-tax home ownership costs by capping the amount of mortgage debt on which interest is deductible, doubling Americans' standard deduction and lowering marginal tax rates.showed the new policies contributed to a slowdown in housing activity last year.
Zillow bases its median home values on price estimates of more than 100 million homes across the country, according to a spokesperson.
Housing prices, Rents, and everything else needs to go down to show that 'One size doesn't fit all!' In America!