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.
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