-
Your Host
Brought to you by Ron Ares, an Oregon broker licensed with MRealty.
Contact: (503) 460-7992
Follow Along
Subscribe in a reader
Update on First-Time Buyer Credit: Will It Stay or Will It Go?
Diana Olick at CNBC covered HUD Secretary Shaun Donovan’s address before the Senate Banking Committee October 20. Sounds like HUD isn’t so sure that the credit will continue:
I am also aware of the strong support in Congress for doing more to support the housing market, including extending the First Time Home Buyer Tax Credit beyond 2009. At the same time, I am mindful that these proposals can be very expensive, especially at a time of significant budget deficits. I can assure you the Administration will work with Congress to fashion appropriate and effective home buyer incentives, mindful of both their benefits to stimulating new demand and their costs to the American taxpayer.
Politicians on both sides are taking a hard look at the expense of the stimulus vs. the potential effects of stalling the momentum the market has made through the year. Sounds like a decision is still weeks away.
Full commentary at http://www.cnbc.com//id/33398833.
Comments
Leave a Reply
