A public opinion survey on tax reform indicates that 69% of respondents believe the tax reform legislation, as approved by the Senate and now in joint conference with the House, would encourage home ownership.
The remaining respondents in the survey, administered to more than 500 visitors at Kaufman & Broad's new home communities throughout California, said they expected new, for-sale housing construction to increase if the bill becomes law.
If the current tax reform measures are adopted, a survey spokesman said, home mortgage interest and property taxes will be two of the few remaining tax deductions.
"This bodes well for increased housing demand in 1987. In fact, 61% of the renters who responded to the survey said they would be more motivated to buy a home if the bill were made law," he added.
"Also rent increases would more than likely result from the new tax law."