Posted: November 3, 2009 By: Dave Ralston
Congress approved the extension of the first time homebuyer tax credit, but we are not out of the woods yet. The question is now whether or not Senate will give their blessing and pass this first time home buyer tax credit. There are many reasons to support the bill. For instance, a study done by the National Association of realtors (NAR) found an average of $63,000 is injected into the economy for each home sale. Our national economy is recovering but still delicate at this point. Removing the tax credit now, during the slow season, could undo all the work that was accomplished by installing the homebuyer advantage.
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