RISMedia
  • News
  • Premier
  • Reports
  • Events
  • Power Broker
  • Newsmakers
  • More
    • Publications
    • Education
No Result
View All Result
  • Agents
  • Brokers
  • Teams
  • Marketing
  • Coaching
  • Technology
  • More
    • Headliners New
    • Luxury
    • Best Practices
    • Consumer
    • National
    • Our Editors
Join Premier
Sign In
RISMedia
  • News
  • Premier
  • Reports
  • Events
  • Power Broker
  • Newsmakers
  • More
    • Publications
    • Education
No Result
View All Result
RISMedia
No Result
View All Result

Real Estate Industry Sounds Off on Trump Tax Plan

Home Latest News
May 1, 2017
Reading Time: 2 mins read
Real Estate Industry Sounds Off on Trump Tax Plan

White_House_tax_plan

President Trump’s proposed tax plan has been met largely with disapproval from the housing industry, with several constituents concerned about a change that would double the standard deduction—and, in effect, invalidate the tax benefits of owning a home.

“For roughly 75 million homeowners across the country, their home is more than just a number,” said National Association of REALTORS® (NAR) President Bill Brown in a statement on the plan. “It represents their ambitions, their nest egg, and the place where memories are made with family and friends. Targeted tax incentives are in place to help people get there. The mortgage interest deduction and the state and local tax deduction make homeownership more affordable, while 1031 like-kind exchanges help investors keep inventory on the market and money flowing to local communities. Those tax incentives are at risk in the plan released .”

The outcome of the changes, should they be enacted, could be devastating to homeownership, according to Brown.

“Current homeowners could very well see their home’s value plummet and their equity evaporate if tax reform nullifies or eliminates the tax incentives they depend on, while prospective homeowners will see that dream pushed further out of reach,” Brown said.

National Association of Home Builders (NAHB) Chairman Granger MacDonald shared similar sentiments.

“Doubling the standard deduction could severely marginalize the mortgage interest deduction, which would reduce housing demand and lead to lower home values,” said MacDonald in a statement.

The changes could have an inverse impact, as well, on lower-income households, according to Diane Yentel, president and CEO of the National Low Income Housing Coalition (NLIHC).

“By raising the standard deduction, Mr. Trump’s tax plan would lead to fewer households claiming the mortgage interest deduction (MID)—a $70 billion tax write-off that primarily benefits higher-income households,” said Yentel in a statement. “Without additional reforms to provide a greater tax benefit to low- and moderate-income homeowners and to reinvest the savings into providing affordable rental homes to those with the greatest needs, Mr. Trump’s proposal would amplify MID’s regressive effect; only the wealthiest Americans would benefit.”

Brown, in addition, pointed to the majority share of federal income taxes paid by homeowners, cautioning that they could shoulder even more responsibility if the changes take effect.

“As it stands, homeowners already pay between 80 and 90 percent of the U.S. federal income tax,” said Brown. “Without tax incentives for homeownership, those numbers could rise even further.

“Common sense says that owning a home isn’t the same as renting one, and America’s tax code shouldn’t treat those activities the same either,” Brown said. “While we appreciate the administration’s stated commitment to protecting homeownership, this plan does anything but.”

National Economic Council Director Gary Cohn reiterated the administration’s intent to preserve homeownership in a briefing on the plan.

“Homeownership, charitable giving and retirement savings will be protected,” said Cohn.

Stay tuned to RISMedia.com for more developments.

For the latest real estate news and trends, bookmark RISMedia.com.

Tags: Mortgage Interest DeductionNAHBNARNLIHCPresident TrumpTax ReformTrump AdministrationTrump Tax Plan
ShareTweetShare

Related Posts

NAR
Industry News

NAR Praises ‘Big Beautiful Bill’ as ‘Major Win’ for Real Estate

July 3, 2025
Mortgage Rates Post Biggest Drop Since March 2025
Industry News

Mortgage Rates Post Biggest Drop Since March 2025

July 3, 2025
Upbeat New Jobs Report in June Leaves Housing in ‘Holding Pattern’
Agents

Upbeat New Jobs Report in June Leaves Housing in ‘Holding Pattern’

July 3, 2025
The AI Advantage: Experts Share How AI Is Revolutionizing Real Estate—and Why the Potential for Agents Is Limitless
Best Practices

The AI Advantage: Experts Share How AI Is Revolutionizing Real Estate—and Why the Potential for Agents Is Limitless

July 3, 2025
The 3 ‘Hottest’ Markets in Each Region This Spring
Agents

The 3 ‘Hottest’ Markets in Each Region This Spring

July 2, 2025
5 Signs a Senior Homeowner May Be Ready to Downsize
Agents

5 Signs a Senior Homeowner May Be Ready to Downsize

July 2, 2025
Please login to join discussion
Tip of the Day

4 Ways to Market to the Next Generation of Buyers

Every new generation has a chance to upend the status quo, introduce new ideas into the zeitgeist and radically shift the priorities of a society.

Business Tip of the Day provided by

Recent Posts

  • NAR Praises ‘Big Beautiful Bill’ as ‘Major Win’ for Real Estate
  • Mortgage Rates Post Biggest Drop Since March 2025
  • Upbeat New Jobs Report in June Leaves Housing in ‘Holding Pattern’

Categories

  • Spotlights
  • Best Practices
  • Advice
  • Marketing
  • Technology
  • Social Media

The Most Important Real Estate News & Events

Click below to receive the latest real estate news and events directly to your inbox.

Sign Up
By signing up, you agree to our TOS and Privacy Policy.

About Blog Our Products Our Team Contact Advertise/Sponsor Media Kit Email Whitelist Terms & Policies ACE Marketing Technologies LLC

© 2025 RISMedia. All Rights Reserved. Design by Real Estate Webmasters.

No Result
View All Result
  • Home
  • Premier
  • Reports
  • News
    • Agents
    • Brokers
    • Teams
    • Consumer
    • Marketing
    • Coaching
    • Technology
    • Headliners New
    • Luxury
    • Best Practices
    • National
    • Our Editors
  • Publications
    • Real Estate Magazine
    • Past Issues
    • Custom Covers
  • Events
    • Upcoming Events
    • Podcasts
    • Event Coverage
  • Education
    • Get Licensed
    • REALTOR® Courses
    • Continuing Education
    • Luxury Designation
    • Real Estate Tools
  • Newsmakers
    • 2025 Newsmakers
    • 2024 Newsmakers
    • 2023 Newsmakers
    • 2022 Newsmakers
    • 2021 Newsmakers
    • 2020 Newsmakers
    • 2019 Newsmakers
  • Power Broker
    • 2025 Power Broker
    • 2024 Power Broker
    • 2023 Power Broker
    • 2022 Power Broker
    • 2021 Power Broker
    • 2020 Power Broker
    • 2019 Power Broker
  • Join Premier
  • Sign In

© 2025 RISMedia. All Rights Reserved. Design by Real Estate Webmasters.

X