Trump's Tax Overhaul Takes A Serious Toll On The Real-estate Market
According to Business Insider, Trump's tax overhaul is taking a serious toll on the Hamptons real-estate market.
The New York Times reports that home prices are plummeting in the Hamptons, the infamous vacation playground of New York City's wealthiest residents.
The median sale price of a Hamptons home has fallen to a seven-year low of $860,000.
This high-end real estate slump can be traced to Donald Trump's 2016 federal tax reform, which makes it more expensive to own luxury homes.