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Trump wants tax reform. Could it hurt South Florida real estate?

The tax reform proposal unveiled this week in Washington calls for capping the interest expense deduction for residential mortgages at $500,000 rather than the current $1 million. Deductions would be allowed only for primary residences. How could that affect South Florida’s real estate market, one of the region’s biggest employers? These experts on the local picture weighed in via email:
▪ Christopher Zoller, Realtor with EWM and 2017 Chairman, Miami Association of Realtors:
“The mortgage interest deduction is very valuable to borrowers. The deductability of property taxes, especially in Miami and South Florida, remains a big incentive and benefit to home ownership. Home buyers in all price ranges will be less interested and incentivised to purchase if this proposal is enacted. Losing or limiting those deductions will not benefit home owners and buyers in South Florida.”