A new report from John Burns Real Estate Consulting says that a majority of homeowners & renters benefiting from the Tax Cuts & Jobs Act, passed in 2017. Their research shows that the Tax Cuts and Jobs Act (TCJA) will likely impact housing with; More entry-level home buying in most areas of the country, Higher rents, since tenants now have more disposable income, and Acceleration in Southern migration. Overall, they say homeowners saved an average of $1,508 on their 2018 federal tax bill with renters saving an average of $2,716 on their 2018 federal tax bill across the top housing markets.
“With the vast majority of America receiving a boost in disposable income, we conclude that landlords will be able to charge more in rent, aspiring home buyers will be more likely to save a down payment and afford a more expensive mortgage, and certain markets (especially in the South) will benefit far more than others…”
Click here to read the full report at John Burns Real Estate Consulting.
