How Bush’s new economic stimulus package effects New Orleans Real Estate

Yesterday, President Bush signed a $168 billion economic stimulus package into law. That is a ton of money but will it have any real effects on our economy? Let’s first start with the details:

  • Tax rebates of $600 to individuals who make $75,000 or less, and $1,200 to couples who make $150,000 or less. After those income limits, recipients get 5 percent of however much their income exceeds the limit.
  • Tax rebates of $300 for individuals and $600 for couples who make at least $3,000 from income and Social Security benefits.
  • Each child in a household gets an extra $300 in the rebate.
  • The limits on the size of mortgage loans that can be insured by Fannie Mae and Freddie Mac will be increased from $417,000 to up to $729,750 depending on the median price of the area.

Continued: New Orleans Real Estate - Economic Stimulus Pacakage

 

Read Also: Myth: Mortage Interest Rates will Plummet in 2008

Read Also: Are We Heading into a Recession?

You may also be interested in: New Orleans Real Estate - The Definitive Blog

 

1 Comments on New Orleans Real Estate - Economic Stimulus Package

FEB
15
2008

Darryl,

I am not really an advocate of the "Tax Rebates". It seems like a huge burden on future generations. I hope you are correct in you optimistic view of it helpin our great city. I appreciate that you have explained it so well.   :)
5:53pm • #1

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Darryl Glade ~ New Orleans Real Estate

New Orleans, LA

More about me…

RE/MAX N.O. Properties

Address: 8001 Maple Street, New Orleans, LA, 70118

Office Phone: (504) 866-7733 x 221

Cell Phone: (504) 451-8960

Email Me

Born and raised in New Orleans, I know this city and its real estate. Please contact me soon if you are interested in buying or selling property in New Orleans. I look forward to hearing from you! Darryl Glade - RE/MAX New Orleans


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