national association of realtors economy growing katrina temporarily cuts jobs job gains losses 2001 to 2005 in the recent 12 months resilient consumer spending corporate profits are strong stock market at 3 year high dollar recovering a bit accumulating risks oil prices but dropping inflation building tax reform business may decelerate fed nervous about forced tighten credit narrow spreads suggest further short term rate hikes pushing up long rates confidence trade deficit swelling federal persists economic outlook pending commercial simplified leasehold improvement no details currently 39 cost recovery for property and 15 years improvements deduction state local capital taxed as ordinary income info on recapture pendingcontinued residential limited mortgage interest 2nd homes individual taxes alternative minimum elimination four brackets 33 health insurance real estate moderate expansion flow will continue into almost record levels est 200b increase
