Mortgage Cap Would Hit California, Florida, New York Hardest

Bloomberg, Nov. 29, 2017–Vincent Del Guidice, Wei Lu
Assuming a 20 percent down payment, the three states together are estimated to have more than 80,000 homes currently listed for sale where the mortgage could reach at least $500,000, the limit laid out for new home sales in the House Republican tax plan. In California, that’s 44 percent of homes on the market.