The SALT deduction cap removes an important incentive for perusing (using mortgage leverage) high value residential properties. Now we just need to cap mortgage interest deduction to a much lower level.
It's going to be a lot less appealing for high income people to pile into a few coastal areas when they can no longer deduct away most of their Federal tax liabilities by borrowing a $700K house.
It's going to be a lot less appealing for high income people to pile into a few coastal areas when they can no longer deduct away most of their Federal tax liabilities by borrowing a $700K house.