$15,000 Homebuyer Stimulus Plan
Tuesday, February 10, 2009

Congress is to vote on the Homebuyer Stimulus bill some time today. Hopefully it will not be modified in any significant way. The bill proposes up to a $15,000 tax credit for homebuyer that purchase a home within one year of the signing of the bill. And unlike last years $7,500 tax credit that needs to be paid back this bill does not. The credit can also be split into two years if the homebuyer wishes.

This plan will increase demand for housing with will decrease inventories and help mitigate foreclosures. I will post a follow up after the bills gets passed or amended in the house.