The National Association of Home Builders know how to demolish things, and on Saturday they decided to take on a new project — the House Republican tax bill. informed NAHB that he would not be including a homeownership tax credit as part of the new tax legislation, which will be released on Wednesday. After working to design the tax credit, Brady told Howard on Friday that the changes would not be included. When people started to dump their real estate holdings, real estate prices fell sharply, particularly in Texas and Oklahoma, fueling a collapse of banks and savings and loans. There were numerous causes of the savings and loan crisis, but the home builders aren’t the only ones who believe the 1986 tax law a precipitating factor.

Source: Washington Post October 29, 2017 20:26 UTC