- Housing-industry trade organizations immediately condemned House Republicans' tax bill when it passed in mid-November.
- Senate Republicans' version passed over the weekend. Unlike the House's bill, it doesn't halve the mortgage interest deduction, but it could still remove tax benefits for homeowners.
- The Senate's bill raises the standard deduction, meaning households would be less likely to exceed that threshold and choose to itemize their mortgage interest.
- Both versions could end up weakening home prices.
The GOP tax bill should keep homeowners on alert.
Early on Saturday, Senate Republicans passed their version of the bill, called the Tax Cuts and Jobs Act, pushing it closer to President Donald Trump's desk for signing. The bill's differences from House Republicans' version, passed in mid-November, will now be negotiated in a conference committee.
Akin Oyedele | Business Insider