Mansion Global
Political Power Shift Could Generate Changes in the U.S. Luxury Housing Market
Everything from capital gains tax policy to a more stable political environment will affect how affluent buyers view their wealth and appetite for home purchases
By Michele Lerner
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There’s a new political party in charge in Washington, D.C., one that hopes to make some big changes in the U.S. economy, including tax reform. While the initial priorities of the Biden administration and Congress focus on mitigating the devastating impact of the pandemic, the new political dynamic could eventually create a shift in the luxury housing market.