With prices on the rise and the increased scrutiny of large cash purchases thanks to the release of the Panama Papers, how will Miami’s residential market be affected by the new tax bill and its limits on the mortgage industry and property tax deductions? Given that many developers and brokers schedule sales trips targeting international customers looking to diversify their wealth, flee economic turmoil and/ or just purchase a vacation home in Miami the tax reform bill may put another damper on those transactions. As if the luxury market needed anymore obstacles to overcome, the recent reform limits the jumbo loan market (mortgages over $424,100) and the property tax deduction. Sure the limits are still quite high for the average middle class homebuyer, but in Miami with more expensive neighborhoods than not, could this cause another slow down? It will be curious to see how this shakes out in the next year or two as the tax reform gets applied.