Manhattan home resales drop as tax overhaul sidelines buyers

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The federal tax overhaul, which limits state, local and property tax deductions to US$10,000, was predicted to disproportionately affect homeowners in high-priced housing markets such as New York. Homeowners likely won’t notice the changes until 2019 taxes are filed, but the policy is already putting downward pressure on home prices, as the.

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(Bloomberg) — Manhattan home resales fell in the fourth quarter as buyers wavered ahead of the expected tax overhaul and stood firm in their refusal to overpay.

Manhattan Home Resales Tumble as Tax Overhaul Sidelines Buyers; Jan 03, 2018 New Trump Tax Cuts Could Hike Your Paycheck by February; Jan 02, 2018 Get Started: IRS Warns That Tax Season Brings Security Risks; Jan 02, 2018 American Shoppers Rack Up Average of $1,054 of Holiday Debt

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