Republicans on Friday unveiled the final version of their tax bill, and it has new restrictions for some homeowners. "The mortgage interest deduction change will put downward pressure on prices as well as sales," said Joe Kirchner, senior economist at Realtor.com. But since the final bill calls for nearly doubling the standard deduction, far fewer Americans are expected to itemize come April. The final tax bill also eliminates the deduction for interest on home equity loans. Limit on property tax deductionTaxpayers will no longer be able to fully deduct state and local property taxes plus income or sales taxes.

Source: CNN December 17, 2017 17:15 UTC