Home > Trump's Tax Overhaul Takes A Serious Toll On The Real-estate Market

Business
Trump's Tax Overhaul Takes A Serious Toll On The Real-estate Market

Description

According to Business Insider, Trump's tax overhaul is taking a serious toll on the Hamptons real-estate market. The New York Times reports that home prices are plummeting in the Hamptons, the infamous vacation playground of New York City's wealthiest residents. The median sale price of a Hamptons home has fallen to a seven-year low of $860,000. This high-end real estate slump can be traced to Donald Trump's 2016 federal tax reform, which makes it more expensive to own luxury homes.

Added on the 17/05/2019 11:07:23 - Copyright : Wochit

To customise your video :

Or Create an account

More videos on the subject

  • Republicans Tax Overhaul Slows Manhattan's Real Estate Market

    According to Douglas Elliman Real Estate, Manhattan's housing market reflected the impact of the new tax reform months before it was signed into law. A report released on Wednesday showed, the number of condo and co-op sales in the fourth quarter fell by 27% from the same period in 2016 to 2,127. According to Bloomberg, it was the weakest fourth quarter since 2011. This suggests, that at a time when the House and Senate were still negotiating their separate bills, house hunters in the borough were cautious about the impact of the tax law.

    07/01/2018 - Wochit
  • Trump's Tax Overhaul Slows Manhattan Real Estate

    The Presidents 2017 Tax victory is already causing trouble within his old real estate stomping ground. Business Insider reports that the tax overhaul has "slowed Manhattan's real estate market even before going into full effect." Buyers seem to be pondering the impact of the new tax law, amid reports of slumping Fourth-quarter home sales in Manhattan. There were many reports across the country that homeowners in high-tax states including New York, Virginia, and California lined up to prepay their property taxes before the 2018 deadline took effect.

    03/01/2018 - Wochit
  • Renault Shares Tank After Fiat Chrysler Dump Merger

    On Thursday morning, Renault shares plunged 8% after Fiat Chrysler pulled its offer for the French carmaker. Business Insider reports that French government officials on Renault's board postponed making a decision on Wednesday. Renault wanted more time to secure the support of long-time rival Nissan. "It has become clear that the political conditions in France do not currently exist for such a combination to proceed successfully," Fiat Chrysler said.

    06/06/2019 - Wochit
  • U.S. Home Sales Hit A Three-year Low

    According to Reuters, U.S. home sales tumbled to their lowest level in three years in December and house price increases slowed sharply, suggesting a further loss of momentum in the housing market. The weak report from the National Association of Realtors (NAR) on Tuesday also suggested the economy was slowing. A month-long partial shutdown of the federal government, which has delayed data from the Commerce Department is, however, making it difficult to get a good read of the economy.

    22/01/2019 - Wochit
  • All In The Family: Jared Kushner Allegedly Dodged Taxes For Years

    A new report claims from 2009 to 2016, Jared Kushner hardly paid any federal income taxes. Business Insider reports filings by the Kushner Companies show massive losses listed as depreciation. The real estate tax law allowance allows for such deductions in order to reduce taxes. Kushner's business has been accused of inflating rents, falsifying documents, and mismanaging construction. Despite his senior role in the Trump administration, President Donald Trump's son-in-law still remains an owner.

    13/10/2018 - Wochit

More videosBusiness

Watch video of Shares Of Blue Apron Dipped To An All-time Low. The Meal-kit Subscription Dropped To $1.81 Per Share On Tuesday. The Company Has Faced Increasing Pressures From Competition, Like HelloFresh. Big Companies Like Walmart And Amazon Entering Its Space. In March, Walmart Announced It Was Launching Its Own Line Of Meal Kits. The Company Has Struggled To Attract New Customers And Retain Old Ones Since Going Public Last June. - Blue Apron Shares Drop To A New Low - Label : Wochit -
Business

Blue Apron Shares Drop To A New Low

03/04/2018 21:21:24