Quick facts on the homebuyer tax credit

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Services for Real Estate Pros

In light of all the debate over the possible extension of the homebuyer tax credit, the folks at Waterfront Lifestyle Properties thought we'd share a few quick facts from the National Association of Home Builders' economic analysis on the credit. The analysis done by the NAHB concluded that an extension of the credit would have the following benefits:

  • Increase home purchases by 383,000
  • Increase housing starts by 82,000
  • Create nearly 350,000 jobs (whoa!)
  • Generate $16.1 billion in wages and salaries
  • Generate $12.1 billion in business income
  • Yield tax revenues of $8.4 billion for the federal gov't
  • Yield tax revenues of $3.2 billion for state and local gov'ts
That's a lot to think about! What do you think about the tax credit - should it be extended? Altered? Left alone? Let us know in the comments - we'd love to hear your opinion!

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