Congress Could Extend Homebuyers Tax Credit

The 8,000 dollar credit is scheduled to expire at the end of November.

Real estate agents fear housing sales will fall flat if the credit isn’t extended.

Florida Association of Realtors President Cynthia Shelton says home sales are one of the few bright spots in Florida’s economy.

“For every home purchased, $63,000 additional income goes into the economy in some manner though creation of jobs, through the closing, through acquiring furniture etc.

So I think it would help boost the economy but more important I think it would help get individual homeowners get into a home,” said Shelton.

If Congress extends the program, it would likely run though April, it could also be expanded to offer a 6,500 dollar credit to people buying their second home, if the home they’re purchasing will be their primary residents.

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  • by citizen Location: tally on Oct 30, 2009 at 04:47 AM
    This sounds like the car many taxpayer funds are spent to get that tax credit??? Sure little johnny needs to purchase his first home-so does my dog Fido. 43,000 times how many homes?? Only the naive think this isn't coming out of their pocket too.
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