[ethbro]

The decrease in interest premiums (on max 1M -> 750k principle) and state property taxes (10k cap) would seem to be a net negative for people sitting in expensive homes, which seems like it would prod to some sales and downsizing around NYC and SF.

[muhneesh]

My point on the tax incentives were that current homeowners are grandfathered into their mortgages (assuming they bought before Dec. 2017).

Regarding state property taxes, I think they are treated as a local tax - so it wouldn't affect NY or SF given that their state income tax is likely to be higher. Your point is true in other geos though.