The New Tax Plan: When It Comes To Real Estate, Who Wins And Who Loses? - Part 2 of 5

Luxury buyers: Could see a hit

At one point, there was talk that the bill was going to eliminate the mortgage interest deduction, sending industry experts into a what-if tailspin. The $750,000 cap - it was previously $1 million - on the mortgage interest deduction means luxury buyers could see a pinch.

"Under the new tax plan, the deduction would be limited to $750,000 of indebtedness starting with the 2018 tax year," said The Motley Fool. "However, filers who have mortgages issued before the Dec. 15, 2017, cutoff would be grandfathered in, and will still be able to deduct interest on up to $1 million of mortgage-related indebtedness."