Home DC Politics this week could affect home values in the future.

The next FED chairman and the outcome of the tax reform vote could drastically affect the value of your home.  (See video at this link - embedded video didn't work in last blog post: https://www.youtube.com/watch?v=c50vTmRx-r0 )

President Trump asked Senate Republicans on Tuesday who they wanted to replace Janet Yellen as Chairman of the FED; they overwhelmingly selected John Taylor. John Taylor is an outspoken critic of keeping interest rates low. If appointed, there is a good chance rates will be raised in December which would lead to lowered buying power for future homeowners a decrease in demand for housing and therefore a likely drop in home values.

The current Republican tax plan will likely get rid of the mortgage interest rate deduction as well as the deduction for property taxes at the local and state levels. Once again this will likely lower property values.