Monday, December 10, 2012
Hanging Off The Fiscal Cliff? What Will 2013 Bring To The Massachusetts Real Estate Market?
High Anxiety Heading Into 2013 - by on DECEMBER 9
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The term Fiscal Cliff should be as ubiquitous as “Merry Christmas” and “Happy Holidays” through the year-end, especially if President Obama and Congress cannot work out a deal to resolve the more than $500 billion in tax increases and across-the-board spending cuts scheduled to take effect after Jan. 1, 2013. If there is no deal, and the country goes over the fiscal cliff, the consensus is that it will have quite a negative effect on the economy and the real estate market in particular. (I debated using the word “disastrous” because there is a segment of commentators who say the housing market may survive a fall off the cliff).
There are four particular aspects of the Fiscal Cliff which could impact the real estate market.