At the beginning of 2019, home sales in the Hamptons declined for a fifth straight quarter to the slowest pace in seven years.
Americans still wanted in on homes in the Hamptons at the beginning of 2019, but they weren't willing to pay as much as in the past. Economists said the tax overhaul passed in 2017 may have softened demand for more expensive homes. It effectively increased 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.
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