The bill’s talking points, released Thursday, suggest that the interest deduction for existing home mortgages will be preserved in full, but newly purchased homes will see the cap
cut in half, to $500,000.
The SPDR S&P Homebuilders exchange-traded fund, ticker XHB, and an S&P index that tracks builders plunged in early trading. If the losses hold, it would be the worst day for both in more than a year. Luxury homebuilder Toll Brothers Inc. fell as much as 7.3 percent, and retailer Home Depot Inc. also saw heavy losses.
We cryeth not many tears over this, frankly…