Current tax filings reflected last year's tax law, which the commentary said lowered tax bills, increased refunds, and showed housing policy's direct financial impact.
The commentary said homeowners continued benefiting from the mortgage interest deduction, helping make homeownership more attainable and sustainable in current tax returns.
Small business owners, including many real estate professionals, benefited from a strengthened, permanent qualified business income deduction that supported reinvestment in businesses and communities.
Families in high-cost states saw relief from a higher SALT deduction cap, which the commentary said eased tax burdens and improved homeownership feasibility.
The commentary said 1031 exchanges stayed in place, supporting property investment, housing turnover, and supply needed to help meet demand nationwide.
It argued policy certainty mattered while affordability and inventory shortages persisted, saying certainty supported buyer confidence, investm
