Ex-Countrywide chief sees luxury home rout as tax bill bites

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Tax overhaul is ‘devastating’ to certain homeowners, he says A decade ago, Angelo Mozilo was the face of the housing bust that preceded the financial crisis. Now the former chief executive officer of Countrywide Financial Corp. is predicting another drop, and for some homeowners it may be even worse.

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It’s supposed to bite next year on high-turnover traders, chiefly the 20 biggies thought to make up two-thirds of our foreign online purchases. It’s expected to net $57 million the first year – again, somewhat shy of the $1.6 billion of GST we’re probably missing, but better than a poke in the eye.

Ex-Countrywide chief sees luxury home rout as tax bill bites Angelo Mozilo had a front-row seat during the collapse in housing prices a decade ago. Now the former chief executive officer of Countrywide Financial Corp. is predicting another drop, and for some homeowners it may be even worse.

MY MONSTROUS PROM DATE | Monster Prom Home Tags Sees. Tag: sees.. Nonbank mortgage employment sees first monthly growth since August. root-June 7, 2019. 0. Real Estate. Mortgage originations plunge, but subprime activity sees minimal decline.. Real Estate. Ex-Countrywide chief sees luxury home rout as tax bill bites. root-May.

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