The clock is ticking on the first-time home buyer tax credit, which expires on December 1, 2009. However, more time is needed to continue to stimulate housing, which will play a big role in fixing the national economy.
If Congress acts to extend the tax credit program, it would spur 383,000 additional home sales, including 80,000 housing starts down the road as additional sales help deplete the inventory of unsold homes. This stimulus will create nearly 350,000 jobs over the coming year. That's good for the economy and good for America.
How You Can Help Call your members of Congress today toll-free at 866-924-6242 and tell them to:
- Extend the deadline for the $8,000 home buyer tax credit through November 30, 2010; and
- Make it available to all home buyers.
Thank you for your help in letting Congress know that to restore America, we must revive housing.
Steve, I'm not sure where those numbers come from, but I do agree that extending the credit is a good idea. Hopefully it will be done.
They come from the National Association of Home Builders... Thanks for the comment Gabe!