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Tax credit for home purchase could rise

Tax credit for home purchase could rise (News (General))

by administrator @, Monday, June 22, 2009, 17:42

Lawmakers and businesses are calling for expansion of a tax credit for first-time home buyers that has helped spark home sales in an otherwise dismal real estate market.

With the tax credit scheduled to expire in fall, some business groups say the amount of the credit, now capped at $8,000, should be raised to $15,000 and applied to anyone who buys a home.

First-time buyers make up a hefty 40% of home purchases, according to the National Association of Realtors (NAR), which is about 5 percentage points higher than the historical average.

Click on the following link to read moreā€¦

http://www.usatoday.com/money/economy/housing/2009-06-22-homebuyer-credit-may...


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