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We all know a housing stimulus is absolutely necessary in order to get the economy going again, but the Senate unfortunately doesn't agree. The shot down the proposed $15,000 home buyer tax credit, which would have helped get more buyers off the fence. The $7500 first time home buyer credit simply was not doing what it was created to do so the National Association of Realtors lobbied Washington to give all homeowners a tax credit of $15,000. The $15,000 coupled with lower interest rates could be the stimulus needed to get the housing market back in check. Simply lowering the interest rates will not get the buyers completely off the fence. I guess spending $21 million to re-sod the National Mall in Washington is going to help the economy.
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