Introduced last February as a means of kickstarting the sluggish housing market, over 1.2 million borrowers have claimed $8.5 billion out of the original $13.6 billion allocated for the credit. Did the tax credit do what it was intended to do? Depending on which economist you speak to, an estimated 150,000 to 400,000 home sales were the direct result of the Home Buyer Tax Credit.
As the end date for the 2009 US tax credit nears, the nation waits to hear the outcome of the government’s decision whether to extend the credit an additional six months, or maintain the original completion date.
The deadline on the first time tax credit is here and for those who have not taken advantage of it should really think about getting into a new home today. It is coming to an end soon.
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