November 16th, 2017 8:57 PM by Eric Fang
1) Lowers the mortgage interest deduction cap from $1 million to $500,0002) Eliminates the mortgage interest deduction on second homes;3) Eliminates state and local income tax deductions; 4) Caps property tax deductions at $10,000; 5) Extends the capital gains exclusion qualification period from two years to five years,which further locks up badly needed inventory. This will affect the real estate market a little bit in the bay area.