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If income tax rates increase, people will become less able to afford a mortgage, so the possibility of their home being repossessed increases. If a large number of homes are being repossessed, people will be put-off purchasing a house. Also, people who are considering taking out a mortgage will be less likely to do so because they will be less able to afford it due to the fact that they are paying more tax...
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If income tax rates increase, people will become less able to afford a mortgage, so the possibility of their home being repossessed increases. If a large number of homes are being repossessed, people will be put-off purchasing a house. Also, people who are considering taking out a mortgage will be less likely to do so because they will be less able to afford it due to the fact that they are paying more tax...
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