If the economists are correct, real estate practitioners can look forward to a strong housing market through the turn of the century. With moderate interest rates predicted along with steady economic growth and low inflation, first-time homebuyers and move-up purchasers will spur a generous amount of activity from 1997 through the year 2000.
Employment statistics will shape home sales in your area, according to John A. Tuccillo, chief economist for the NATIONAL ASSOCIATION OF REALTORS®. When Tuccillo looks into his crystal ball, he sees a fairly strong housing market for the first and second quarters of 1997.
Fifty percent of Americans who responded to a recent Associated Press poll said they oppose a flat tax that would "take away all or most deductions, including the home mortgage interest deduction," lending support to NAR's position that the benefits of a pure flat tax aren't worth the loss of the mortgage interest deduction.