New home construction collapses in Northeast - Thanks to Trump tax reform

[SobieskiSavedEurope]

Home sales in the northeast have fallen 51% and construction as collapsed since Trump's tax reform passed.
This due to the "SALT" clause which restricts deductions for state and local taxes to $10K. Sales of homes nationally are down 13.2%.

This is just one of the negative results of Trump's tax break to the top 1%.

And I know the collective right has a problem recalling anything that happened more than six months ago, much less 10 years, but it was the housing collapse that started in California and spread east that created the worst recession since 1929.

Housing Is Tanking in the Northeast. Guess Why.
Losing big deductions for state and local property taxes is having the expected effect.
(This has to be Googled because Bloomberg doesn't allow copying links)
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I'll say it again, everyhing Trump touches dies.
.
.

That was due to fraud....big difference

Tell that to the residential construction firms, mortgage banks, realtors, new home buyers and current middle class homeowners who are being hurt by Trump's tax gift to the wealthy.

That collapse trickles down to retail, too, butthead.

Just ask Lowes, Home Depot, and the big box furniture stores.
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.
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Explain how losing tax deductions help the rich?

Mark

It's not going to affect the wealthy, they can afford the loss of the deduction.
Most middle class homes in NJ and NY have very steep housing prices and property taxes.
Ours outside of Princeton was over $18K annually three years ago before we moved.
That's typical for a 3-4 bedroom home in a metro or densely populated suburban area.
.
.
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The northeast is liberalland. They love high taxes.

Eh, my Pawling, NY has much higher property taxes than NYC & it's also like 65 - 70% Republican unlike NYC.

Pawling, NY has been Republican since the Civil War, UNLIKE the South.

Probably because much like myself people here tend to not have a problem with giving the community better schools, or parks, or sidewalks,
just
a lot of us
we really, really don't like Illegal Hispanics, Abortion, Muslim Refugees, Blacks, or Gay Marriage, and really, really do like Guns.

We're probably a ton more Socially Conservative than the South.

Besides, cutting taxes is actually Classical Liberalism, it's really not Conservative, or Right Wing.

 

[SobieskiSavedEurope]

I don't have a problem paying local taxes to give my people in town a better school.

I do have a problem paying for taxes for a bunch of Southerners Negroes & White trash gouging the system by taking more welfare, spending more on wars & more on military.

It's time to cut you suckers off too.

The majority of your taxes are turned over to the Treasury by the IRS so that the Treasury can pay the principal plus interest on that bond that the Federal Reserve bought with a check which was drawn on an account that has nothing in it.

It's a pretty simple formula, but maybe some of our resident economist and trustees in Keynesian economics might chime in and learn us. That oughtta be a hoot.

Not really, you get what you pay for.

My Pawling ranked towards the top of the charts in Dutchess in property taxes & also in school rankings.

Dover schools get nearly half the ranking as Pawling, and Dover also has a lot less taxes by nearly half.

Dover also pretty much is a real suckie place to live, it's got a lot of trailer parks, it's kind of like Appalachia.

 

[SobieskiSavedEurope]

.
..
Home sales in the northeast have fallen 51% and construction has collapsed since Trump's tax reform passed.
This due to the "SALT" clause which restricts deductions for state and local taxes to $10K. Sales of homes nationally are down 13.2%.

This is just one of the negative results of Trump's tax break to the top 1%.

And I know the collective right has a problem recalling anything that happened more than six months ago, much less 10 years, but it was the housing collapse that started in California and spread east that created the worst recession since 1929.

Housing Is Tanking in the Northeast. Guess Why.
Losing big deductions for state and local property taxes is having the expected effect.
(This has to be Googled because Bloomberg doesn't allow copying links)
.
I'll say it again, everything Trump touches dies.
.
.

In my home state of Colorado, once a very hot existing home market has now taken a nose dive due to Trump's tax cuts.
When you flood an already good economy with a lot of cash--it spikes inflation sending the Federal Reserve chairman to raise interest rates. Mortgage rates, short term rates, and credit card rates have gone up which inherently slows the economy down. This causes a ripple effect throughout the economy.

The stock market is in another roller coaster ride, not only with interest rate hikes, but Trump's continual threats of a trade war. Investors are now moving money out of stocks and into safer instruments.
Trump's tax cuts and the ugly truth about the stock market

Trump threatens Harley-Davidson: If it moves overseas 'they will be taxed like never before!'
Trump says he’s ‘surprised’ Harley-Davidson is moving work overseas after tariffs take effect

Trump's tax cuts thereby making for the shortest economic boom period in history, let alone adding another 2 trillion to the deficit.

High tax is never make for healthy economy you spineless motherfucker

Oh contraire, the 3 biggest unemployment rate period recessions & depressions in the 20th century happened while cutting taxes like under Hoover, Reagan & W Bush.

The towns around here with the highest taxes tend to be the richest it's kind of a way of keeping out the riff-raff.

 

[Mikeoxenormous]

Home sales in the northeast have fallen 51% and construction as collapsed since Trump's tax reform passed.
This due to the "SALT" clause which restricts deductions for state and local taxes to $10K. Sales of homes nationally are down 13.2%.

This is just one of the negative results of Trump's tax break to the top 1%.

And I know the collective right has a problem recalling anything that happened more than six months ago, much less 10 years, but it was the housing collapse that started in California and spread east that created the worst recession since 1929.

Housing Is Tanking in the Northeast. Guess Why.
Losing big deductions for state and local property taxes is having the expected effect.
(This has to be Googled because Bloomberg doesn't allow copying links)
.
I'll say it again, everyhing Trump touches dies.
.
.

That was due to fraud....big difference

Tell that to the residential construction firms, mortgage banks, realtors, new home buyers and current middle class homeowners who are being hurt by Trump's tax gift to the wealthy.

That collapse trickles down to retail, too, butthead.

Just ask Lowes, Home Depot, and the big box furniture stores.
.
.

.
..

Explain how losing tax deductions help the rich?

Mark

It's not going to affect the wealthy, they can afford the loss of the deduction.
Most middle class homes in NJ and NY have very steep housing prices and property taxes.
Ours outside of Princeton was over $18K annually three years ago before we moved.
That's typical for a 3-4 bedroom home in a metro or densely populated suburban area.
.
.
.

The northeast is liberalland. They love high taxes.

Eh, my Pawling, NY has much higher property taxes than NYC & it's also like 65 - 70% Republican unlike NYC.

Pawling, NY has been Republican since the Civil War, UNLIKE the South.


a lot of us
we really, really don't like Illegal Hispanics, Abortion, Muslim Refugees, Blacks, or Gay Marriage, and really, really do like Guns.

We're probably a ton more Socially Conservative than the South.

Besides, cutting taxes is actually Classical Liberalism, it's really not Conservative, or Right Wing.

Probably because much like myself people here tend to not have a problem with giving the community better schools, or parks, or sidewalks,
just ​

Down here in Florida, we dont pay state taxes yet we still have schools, parks and saidwalks...We just aren't as stupid as "folks" in the North East to have to pay high state taxes.​

 

[harmonica]

and Trump is:
racist
a nazi
dictator
white supremacist
doesn't care about babies/puppies/koala bears
caused my sink to overflow

 

[harmonica]

.
..
Home sales in the northeast have fallen 51% and construction has collapsed since Trump's tax reform passed.
This due to the "SALT" clause which restricts deductions for state and local taxes to $10K. Sales of homes nationally are down 13.2%.

This is just one of the negative results of Trump's tax break to the top 1%.

And I know the collective right has a problem recalling anything that happened more than six months ago, much less 10 years, but it was the housing collapse that started in California and spread east that created the worst recession since 1929.

Housing Is Tanking in the Northeast. Guess Why.
Losing big deductions for state and local property taxes is having the expected effect.
(This has to be Googled because Bloomberg doesn't allow copying links)
.
I'll say it again, everything Trump touches dies.
.
.

Excellent!

Another Trumpanzee knuckle-drags into the conversation making zoo noises.
.
.
.

if you are referring to a black person that is racist

 

[Yousaidwhat]

.
..
Home sales in the northeast have fallen 51% and construction has collapsed since Trump's tax reform passed.
This due to the "SALT" clause which restricts deductions for state and local taxes to $10K. Sales of homes nationally are down 13.2%.

This is just one of the negative results of Trump's tax break to the top 1%.

And I know the collective right has a problem recalling anything that happened more than six months ago, much less 10 years, but it was the housing collapse that started in California and spread east that created the worst recession since 1929.

Housing Is Tanking in the Northeast. Guess Why.
Losing big deductions for state and local property taxes is having the expected effect.
(This has to be Googled because Bloomberg doesn't allow copying links)
.
I'll say it again, everything Trump touches dies.
.
.

You favor tax breaks for the wealthy?

Trumps election has caused a short circuit in their brains. Talking points are all mixed up right now. Please stand by and wait for a technician

The tech team is on vacation.

Please hold for the next available agent .

Your call is important to us...

 

[sparky]

We just aren't as stupid as "folks" in the North East to have to pay high state taxes.

 

[Mikeoxenormous]

We just aren't as stupid as "folks" in the North East to have to pay high state taxes.

At least you retards finally admit that you are stupid.. That is the first step in recovery.

 

[Correll]

There is something wrong with our economy, in that it is cheaper to own than rent.

If you can get a loan. Interest rates have been artificially held down while qualifying for a loan has gotten more difficult.

When my wife and I applied for a loan, we ONLY put down her income, and they offered us more than we really could have handled.


If Banks are NOT looking to turn all Americans into debt slaves, they are doing an excellent imitation of it.

 

[sparky]

 

[Moonglow]

Or a wage slave.

 

[sparky]

I've spent an entire career as a construction jock.

It's always boom / bust

Right now, we're on the cusp of another bust , anecdotally one can literally 'feel' it coming with all the hype,angst, marketing bullsh*t, etc

~S~

 

[ColonelAngus]

.
..
Home sales in the northeast have fallen 51% and construction has collapsed since Trump's tax reform passed.
This due to the "SALT" clause which restricts deductions for state and local taxes to $10K. Sales of homes nationally are down 13.2%.

This is just one of the negative results of Trump's tax break to the top 1%.

And I know the collective right has a problem recalling anything that happened more than six months ago, much less 10 years, but it was the housing collapse that started in California and spread east that created the worst recession since 1929.

Housing Is Tanking in the Northeast. Guess Why.
Losing big deductions for state and local property taxes is having the expected effect.
(This has to be Googled because Bloomberg doesn't allow copying links)
.
I'll say it again, everything Trump touches dies.
.
.

 

[sparky]

Really,
read a little, check out who the winners and loosers are
~S~

 

[Mikeoxenormous]

There is something wrong with our economy, in that it is cheaper to own than rent.

If you can get a loan. Interest rates have been artificially held down while qualifying for a loan has gotten more difficult.

When my wife and I applied for a loan, we ONLY put down her income, and they offered us more than we really could have handled.


If Banks are NOT looking to turn all Americans into debt slaves, they are doing an excellent imitation of it.

But I thought Democrat Bill, Dodd/Frank, was supposed to put an end to predatory lending?

After Raising Rates Once During The Obama Years, The Fed Promises Constant Rate Hikes During The Trump Era

The funny thing is that the Federal Reserve could have been raising rates all throughout 2016, but they held off because they didn’t want to hurt Hillary Clinton’s chances of winning the election.

And during Barack Obama’s eight years, there has only been one rate increase the entire time up until this point.

But now that Donald Trump is headed for the White House, the Federal Reserve has decided that now would be a wonderful time to raise interest rates.

 

[Mikeoxenormous]

Really,
read a little, check out who the winners and loosers are
~S~

Loosers? Or losers. I bet you did real well in public education.

 

[Correll]

There is something wrong with our economy, in that it is cheaper to own than rent.

If you can get a loan. Interest rates have been artificially held down while qualifying for a loan has gotten more difficult.

When my wife and I applied for a loan, we ONLY put down her income, and they offered us more than we really could have handled.


If Banks are NOT looking to turn all Americans into debt slaves, they are doing an excellent imitation of it.

But I thought Democrat Bill, Dodd/Frank, was supposed to put an end to predatory lending?

After Raising Rates Once During The Obama Years, The Fed Promises Constant Rate Hikes During The Trump Era

The funny thing is that the Federal Reserve could have been raising rates all throughout 2016, but they held off because they didn’t want to hurt Hillary Clinton’s chances of winning the election.

And during Barack Obama’s eight years, there has only been one rate increase the entire time up until this point.

But now that Donald Trump is headed for the White House, the Federal Reserve has decided that now would be a wonderful time to raise interest rates.

And people still try to laugh off the Deep State Theory.

 

[sparky]

I bet you did real well in public education.

more the school of hard knocks

built my own biz & farm from the ground up, didn't ask anyone for help

but then , most can't get their heads around the bluecollar redneck lifestyle

~S~

 

[sparky]

There is something wrong with our economy, in that it is cheaper to own than rent.

If you can get a loan. Interest rates have been artificially held down while qualifying for a loan has gotten more difficult.

When my wife and I applied for a loan, we ONLY put down her income, and they offered us more than we really could have handled.


If Banks are NOT looking to turn all Americans into debt slaves, they are doing an excellent imitation of it.

But I thought Democrat Bill, Dodd/Frank, was supposed to put an end to predatory lending?

After Raising Rates Once During The Obama Years, The Fed Promises Constant Rate Hikes During The Trump Era

The funny thing is that the Federal Reserve could have been raising rates all throughout 2016, but they held off because they didn’t want to hurt Hillary Clinton’s chances of winning the election.

And during Barack Obama’s eight years, there has only been one rate increase the entire time up until this point.

But now that Donald Trump is headed for the White House, the Federal Reserve has decided that now would be a wonderful time to raise interest rates.

And people still try to laugh off the Deep State Theory.

DS is no more than a partisan kickin' post for when their 'man' fails at something he promised to do

~S~