President Obama Considering Ending First Time Home Buyer Tax Credit
The tax credit given to first time home buyers by President Obama to boost the hard hit housing market is to expire at the end of its current schedule.
Although this is a sign that the US housing market had shown some signs of recovery, many analysts believe the move to let the tax credit expire could mean a relapse of the housing crisis. Industry watchers fears by removing incentives to first time home buyers, sales could once again go down which will obviously directly impact the real estate market once again.
President Obama is therefore likely to study the market closely before making the final call on whether to let go of the tax credit policy or to retain it until the economy shows stronger signs of recovery.
