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- 01/29/10 03:26 AM
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Oct. 29 (Bloomberg) -- The Obama administration endorsed plans to extend an $8,000 tax credit for first-time homebuyers, saying it is helping stabilize the nation's housing market. The tax break, enacted earlier this year as part of the $787 billion economic stimulus package, has "brought new families into the housing market and contributed to three consecutive months of rising home prices," Treasury Secretary Timothy Geithner said today in a statement. The tax break will expire Nov. 30 unless Congress intervenes. Senate Democrats have announced plans to extend the credit until April 30, (3 comments)
2008 has been an eventful year for the world economy. The U.S. financial markets have been severely marked by these events, but as far as the Mexican Caribbean is concerned, these negative changes are actually positive benefits for the foreign investor. The instability of World Stock Exchanges has caused the disparity between the American and Mexican currencies to vary greatly in the last few months. As it now stands, the Mexican Peso is at its all-time low, as compared to the Dollar. This newly-created Bear Market is great for investment. Basically, since your money is now worth more when exchanged (0 comments)