How Will Tax Reform Impact California’s Housing Market?

Earlier this month in a Washington Post op-ed, economist Arthur Laffer posited that high-income homeowners will flee California and New York as a result of the recent tax reform. Laffer isn’t alone. Many economists and real estate experts have suggested that the tax reform severely impacts coastal homeowners, who typically have higher property values. Paul Wassgren, a real estate partner at DLA Piper, however, disagrees that there will be any significant negative impact from the tax reform. Actually, Wassgren says that the benefits to companies could potentially offset the increased costs.

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Source: GlobeSt