The U.S. government tax credit provided some market stability during the 2010 first half when home buying escalated as buyers take advantage of the offer. In New York, a new rule is expected to temporarily lower foreclosure numbers.
Everyone jumped at the chance for the $8,000 tax credit the government released and now they are letting first time home buyers who are eligible for these tax credits use it as a down payment on their new home.
Recently there has been a great amount of debate concerning whether or not extend and expand the tax credit for first-time home buyers or to pull the plug on the program altogether. The arguments made on both sides of the debate have merit.
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