Owning a home could cost more under GOP tax plan, especially if you live in L.A.

Los Angeles Times quoted Richard Green of the USC Lusk Center on how the GOP tax plan would impact home prices in Los Angeles.

Richard Green, director of the USC Lusk Center for Real Estate, said limiting the deduction would probably make home prices in the $515,000 to $1.25 million range a “couple of percentage points” lower than they otherwise would be, but the effect on the overall market would be muted.

“Because prices are going up anyway, maybe this would flatten prices out for a while, which wouldn’t be the end of the world,” he said.

 

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