Nearly 60% of Experts Unconcerned About New Tax Laws’ Effects On Home Values, Says Report
There’s been a lot of talk about the new tax laws and how they’re going to affect home values over time. But while the news has been taking a mostly pessimistic angle, it seems like most experts are unconcerned about home values declining over time.
According to the most recent Home Price Expectation Survey (HPES) from Zillow and Pulsenomics, which surveys 100 of the country’s top economists, housing market analysts, and real estate experts, here’s what was revealed:
Fifty-nine percent of panelists said the Tax Cuts and Jobs Act (which was put into law in December 2017 and changes the way homeowners claim deductions on their taxes) either gave them a more optimistic outlook on the five-year forecast for home values in the US, or didn’t change their outlook at all.
If you’ve heard that tax reform could have a negative impact on home values, it seems there isn’t much to worry about—at least according to the majority of experts.