It’s the SALT tax, stupid: Here’s why luxury home sales have surged

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Here is why luxury home sales surge in South Florida 2019 It’s the SALT tax, stupid: Sales volume of Miami Beach homes in particular jumped 161%; agents, developers target high-tax markets to keep that going

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Total real estate sales in Manhattan fell 11% year over year. ref 230 Offers are coming in well below asking prices. ref 231 The drop was attributed to an acute oversupply of luxury units as foreign buyers sat on their hands, rising material costs of construction, and changes in tax deductibility of mortgage payments. ref 232 This latter point.

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