Home Tax Credit Called Successful , But Costly
Realotors, home buyers and sellers are rushing to sign their tax credit for their homes before it exspires this week. They must have a deal by April 30th and for new home owners a loan of $8,00o and for second home owners is $6500. The Tresury Department will help some 1.8 million people bbuy homes. The 12.6 billion in credits at the end of Febuary was collected by the peopel who would have bought homes. This has made prices change in the society. They need legit and qualified owners in order fror this to work. Since the finacial crisi Congress had made it so that they would drop the repayment prices and increase credit by $8000. This was all included in the stimulus. The IRS was giving out to much money to the people who hadnt bought homes yet and those who were first time buyers.
this is great for our government because, if they get the money situation handled then it would benefit the numbers of homless and the prices would stop rising so much in the economy. The housing bubble issue is part of the main reason of this recession.
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