Johnny Isakson, one of our Georgia Senators, has recently proposed a $15,000 tax credit to any individualthat purchases a home in 2009. It includes no limitation on income and would not be limited to first-time homebuyers. This is not the first time the proposal has been made, but apparently it has a good deal of support this time and has a good chance of passing.
- Investors would benefit by buying up foreclosures at low prices, and would get a lovely tax credit as well.
- Inventory would be vastly reduced.
- Move-up buyers might be enticed to get off the fence
- Real estate industry would improve across the country
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