- MENU
- HOME
- SEARCH
- WORLD
- MAIN
- AFRICA
- ASIA
- BALKANS
- EUROPE
- LATIN AMERICA
- MIDDLE EAST
- United Kingdom
- United States
- Argentina
- Australia
- Austria
- Benelux
- Brazil
- Canada
- China
- France
- Germany
- Greece
- Hungary
- India
- Indonesia
- Ireland
- Israel
- Italy
- Japan
- Korea
- Mexico
- New Zealand
- Pakistan
- Philippines
- Poland
- Russia
- South Africa
- Spain
- Taiwan
- Turkey
- USA
- BUSINESS
- WEALTH
- STOCKS
- TECH
- HEALTH
- LIFESTYLE
- ENTERTAINMENT
- SPORTS
- RSS
- iHaveNet.com
Ilyce Glink
It looks like the $8,000 bet many existing homeowners made is going to pay off.
The existing $8,000 credit will be extended until
Members of the Armed Forces who are on active duty for at least 90 days in 2008 or 2009 have until
To protect against fraud, you must be 18 years of age or older to claim the credit (a 4-year old had claimed the credit as a first-time buyer because her parents already owned a home), and a HUD-1 settlement statement must be attached to the tax filing. Finally, the
The income limits for the tax credit have been raised to $125,000 for individuals and up to $225,000 for married couples.
The $8,000 first time home buyer tax credit was due to expire on
But the latest new home sales figures from the
Economists were expecting new home sales to rise about 5 percent. The new annualized sales figure is about the lowest on record.
Up until the
But the Realtor, mortgage banker and home builder trade groups have been pushing
The new home sales number seems to be the "magic bullet" senators and lobbyists were hoping to find. The deal, which had been in negotiation for weeks, came together quickly once the new homes numbers were announced.
In a press conference, Treasury Secretary Tim Geithner and HUD Secretary Shaun Donovan said they "welcome efforts taken by
Mindful that the
In the same press conference, Geithner and Donovan also urged
While everyone is celebrating the extension and expansion of the $8,000 tax credit, don't forget what it really says about the U.S. housing market: It's fragile and weak.
WORLD | AFRICA | ASIA | EUROPE | LATIN AMERICA | MIDDLE EAST | UNITED STATES | ECONOMICS | EDUCATION | ENVIRONMENT | FOREIGN POLICY | POLITICS
Real Estate | First-Time Home Buyer Tax Credit Will Be Extended And Expanded