saying the tax cuts will have *some* positive impact on the stock market. We don't really know what the impact will be, we can't predict how other factors may enhance it or cancel it out, etc. We can only say with some degree of certainty that the tax cuts themselves will not *negatively* affect the stock market.

Likewise, we can say with even more certainty that changing the mortgage interest and property tax deductions will *not* have a *positive* impact on demand for housing. It likely will have a negative effect, the question is just how much and what other factors may cancel it out.

I see several ways this affects housing demand:

-For first-time homebuyers who are renting and making the decision to stay renters vs. buy, having less of a tax incentive to buy certainly will reduce demand for buying. Most may buy anyways, but it will not help. Decreasing demand will put downward pressure on values. This will be a nationwide phenomenon with the expansion of the standard deduction, and probably will hit blue collar areas the hardest.

-For current homeowners, they are less incented to "upgrade," either by buying a bigger home or renovating or adding. Especially so if they currently have a million dollar mortgage and lose their tax deduction by replacing it. Most negative effect here in HCOL areas.

-Folks on the high end are less incented to buy second homes and use them as tax shelters. This will probably hit vacation spots the hardest.

No one will be better off from this change, and still for the life of me don't understand why they did it. I hope the sons of bitches pay dearly for it too.