Manhattan home resales drop as tax overhaul sidelines buyers

The BC government’s housing plan includes an increase to the existing foreign-buyer tax from 15 per cent to 20 per cent, along with a new speculation tax. Although stricter mortgage regulations played a role in the region’s drop in sales throughout Q1 2018, Hogue attributes the further slowdown in March to the new housing policies.

(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.

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This recent tax legislation is a good example: liberals made a legitimate point that it could have been skewed more to the middle class. Where they went off the wall was when they criticized lowering the corporate tax rate and this was totally ridiculous given that the US had the highest corporate tax rate among the major industrialized nations.

Mortgage originations plunge, but subprime activity sees minimal decline

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Manhattan home resales drop as tax overhaul sidelines buyers – 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 US tax overhaul sidelines. – Manhattan home resales tumble as US tax overhaul sidelines buyers wed, Jan 03, 2018 – 1:37 PM [NEW YORK] 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 fell in the fourth quarter as buyers wavered ahead of the expected tax overhaul and stood firm in their refusal to overpay. Sales of previously owned condos and co-ops dropped 11% from a year earlier to 2,127, appraiser Miller Samuel Inc. and brokerage douglas elliman real estate said in a report Wednesday.

The index measures change in resale prices for the same properties over time. It was the largest decline in the index since April 2010, when the index dropped 6.1%. The newfound bid for homes could be a sign that Manhattan’s market may be emerging from a drought of buyers, who had been previously been sitting on the sidelines, scared of.