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Ex-Countrywide chief sees luxury home rout as tax bill bites

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Tax breaks encourage people to get into first homes and to trade up as they get. But the tax bill making its way toward final passage is upending that premise. the local office of Representative Kevin McCarthy, the House majority leader.. Another group is holding off to see how the loss of homeowner.

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Now the former chief executive officer of Countrywide Financial Corp. is predicting another drop, and for some homeowners it may be even worse. High-end properties in coastal states may fall as much as 40% from their peak value because many people can no longer afford them after losing deductions in the U.S. tax overhaul that passed in late 2017, Mozilo said in an interview with Bloomberg Television.

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Angelo Mozilo, the former CEO of Countrywide Financial, has kept a low. tax changes may crash luxury home market in some coastal states.

Council chiefs’ pay hiked by thousands as ordinary Brits see taxes soar. It comes as struggling families are facing a six per cent hike to council tax bills on average and huge cuts to frontline services. Council tax bills are set to increase by an average of 81 – the steepest rise in 14 years.

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Changes to the tax code could mean luxury homes in San Diego County will have more buyers, or at the least, see no noticeable change in.