Reply to Trump tax law cost homeowners $1 trillion in lost equity

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Reply to "Trump tax law cost homeowners $1 trillion in lost equity"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I am okay with this.  Housing is unaffordable, it can't keep going up and up.
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Did you read the article? Affordability does not change. Equity that would have gone to homeowners instead went to the government as taxes. This does not change affordability, as the cost of taxes are passed onto renters and owner-occupiers.

Even worse, the federal government used this equity the belongs to home owners and gave it to fund the corporate tax breaks in the legislation. And many of those companies are actually foreign controlled. There are other economic studies that show that somewhere around 50% of the tax windfall in the Trump tax cuts benefitted foreign shareholder, companies, and/or foreign individuals.

We literally took money from American home owners to give away to wealthy foreigners.[/quote]

Yes, I read it.  This part was notable:
“Please note that Zandi isn’t saying that house prices have fallen by an average of 4%. That hasn’t happened. What he’s saying is that on average, house prices are about 4% lower than they’d otherwise be.”

Home prices are increasing too fast. If this is part of the equation to keep them from escalating so quickly, I’m okay with that. [/quote]

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