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Tax Credit Expires Nov. 30...Unless....
On November 30 the $8,000. Federal Tax Credit for first time homebuyers will expire.  This stimulus has helped the real estate and building industries the last several months, as it has allowed markets to reduce some of their inventories, and brought action to buy from many who were sitting on the fence to see what happens with interest rates and prices.  The problem was the limited scope of the program. 
I've written previously that this stimulus should have been offered to any buyers regardless of of their status, and the price range of the home purchase (as long as it primary residence, or home used by a family member, such as inlaw or dependent in college).  This would have relieved much more inventory and at fairer prices to the sellers, allowed people who wish, or need, to relocate to sell their homes, and created a demand once more for new construction, putting many layed off construction and related trade workers back on the payrolls, reducing the growth of unemployment overall.
This still may happen, and that should be good news.  There has been legislation introduced in several forms, which extends the current program another 6 monthe to a year, and more ... more

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