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Congress Could Extend Homebuyers Tax Credit

October 29th, 2009 by flanews

Real Estate agents in Florida are keeping their fingers crossed as Congress debates extending the first time home buyer tax credit.

The 8,000 dollar credit is scheduled to expire at the end of November. Real estate agents fear housing sales will fall flat if the credit isnt extended. Florida Association of Realtors President Cynthia Shelton says home sales are one of the few bright spots in Floridas economy.

For every home purchased, $63,000 additional income goes into the economy in some manner though creation of jobs, through the closing, through acquiring furniture etc. So I think it would help boost the economy but more important I think it would help get individual homeowners get into a home, said Shelton.

If Congress extends the program, it would likely run though April, it could also be expanded to offer a 6,500 dollar credit to people buying their second home, if the home theyre purchasing will be their primary residents.

Posted in Economy, Housing, State News | 1 Comment »

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