"About one-fourth of the homes sold in California in the first 10 months of this year had a mortgage loan amount of more than $750,000, highlighting the challenges buyers face in the high-priced market."
"The lower interest deduction definitely had an impact on homeownership," said Jordan Levine, underscoring how the tax law changes are affecting buyer options and behaviors in California.
"Affording a home in California remains difficult for many, with the California Association of Realtors noting that only 16% of households could afford the median-priced home this summer, which was $880,250."
#california-real-estate #tax-law-impact #homeownership-challenges #mortgage-deductions #housing-market-trends
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