The White House keeps telling us that we’re in a recovery, yet anyone watching the economy, housing, foreclosures, unemployment, the stock market, commercial real estate, and dozens of other factors will tell you that they have some rose colored glasses glued on. Of course, if they didn’t, what they would tell us is that [...]
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Joshua Dorkin
Charles Feldman
Ted Karsch.
First Time Home Owner Tax Credit Likely To Stay; But Current Homeowners Still Face Uncertain Future
by Charles Feldman | October 7, 2009As the, so far, jobless recovery continues, the White House is reportedly hunkered down trying to figure out what to do next. Obama administration officials are taking note of programs that have worked and those that have not done as well.
Among the programs that apparently fall into the “success” column is the $8,000 tax credit for first time home buyers.
The tax credit for first timers was part of the $787 billion dollar stimulus program and is being credited with helping the real estate industry stage a modest comeback—at least among first time home buyers.