Is an Extension on the Way for the Home Buyer Tax Credit?
Posted by Brandon Anderson on Friday, October 23rd, 2009 at 9:21am.There is quite the buzz in Washington regarding the Home Buyer Tax Credit which is due to expire on November 1st of this year. Many sources estimate at least twenty different bills are floating around Washington with language related to the extension of the popular tax credit.
A proposal by Senator Johnny Isakson has probably garned the most attention. Citing the urgency of continuing to build on recent economic momentum Isakson further states:
“During my 33-year career in real estate, I experienced many challenges and difficult markets, but never anything like the current housing market in America. America’s families have lost trillions of dollars in home equity as home values have fallen, and in some markets, continue to fall today,” Isakson said. “The current home buyer tax credit is set to expire on November 30, and we are approaching the worst three months of the year for the housing market. It is imperative that we retain the momentum we have gained as a result of the current credit and go into the spring market with the increased consumer confidence necessary for establishing a viable market.”
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