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Not only is the Senate GOP pushing for a 4% mortgage rate program in the latest stimulus bill, they're adding a tax credit of up to $15,000 for home buyers. Will it pass?
From the NYT:
But Senator Johnny Isakson, Republican of Georgia, a former real estate broker, who was the prime sponsor of the home buyer credit, said it was modeled after a similar, $2,000 home buyer incentive that helped lead the country out of recession in 1975.
“We do have a history in this country with housing and it goes back to the crash of 1974, which actually in terms of inventory and price declines was comparable to what’s happening now,” Mr. Isakson said at a news conference.
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The ideas and strategies described in this blog are the opinion of the writer and subject to business, economic, and competitive uncertainties. We strongly recommend conducting rigorous due diligence and obtaining professional advice before buying or selling real estate.