2019 Real Estate Industry Forecast & Trends for New Jersey
As we enter 2019, the nation’s economy appears to have its ups and downs due to many moving parts. With regards to the Real Estate industry in particular, there are many variables that have shaken things up, and I believe we will not understand the full impact of change until the dust has settled. I am neither an economist nor fortune teller, but with more than 30 years of experience in the Real Estate industry and as an advisor to clients in the market, it is my duty and passion to have my finger on the pulse of trends and forecast the coming future.
The Impact of TCJAon Real Estate
It has now been over a year since our industries saw sweeping tax changes enacted by the Tax Cuts and Jobs Act, but we are now beginning to see what this means for the Real Estate sector.For example, the limit on state and local tax deductions (SALT) continues to impact the single-family home market in states with high real estate taxes such as New Jersey.