June 26, 2009

Housing Tax Credit Bill Being Reintroduced

Right now the $8,000 tax credit has first time home buyers house hunting for bargains. But the housing market continues to be little more than sluggish, with rates creeping up in recent weeks causing a decline in mortgage applications.

Senator Johnny Isakson of Georgia has reintroducing his $15,000 housing tax credit that has no income limit or first-time homebuyer status requirement. Business Roundtable in New York adopted this tax credit as its number one suggestion to the U.S. Government as the one thing we can do to turn around the American economy. Here is Senator Isakson explaining his bill. (Video runs 5:43)

How do you feel about this bill? Do you think it will stimulate the economy? Do you think it will restore the real estate market? Would passing this bill make any difference to you in regards to the housing market?

We'd love to hear your comments. Just click the comment link below and tell us what you think after hearing this bill explained.

Remember, Philadelphia real estate is our specialty. If you're looking for real estate anywhere in the Philadelphia, PA area, including: Center City, Art Museum, Bella Vista, Northern Liberties, Old City, Queen Village, Society Hill, South of South, Washington Square West, Chestnut Hill, East Falls, Fishtown, Manayunk, East Mt. Airy, West Mt. Airy, Overbrook Farms, Roxborough, Spruce Hill, University City or one of the many other areas we serve, we'd love to help you find the home of your dreams. If you'd like to search for Philadelphia real estate now, just click the "Search for Philadelphia Real Estate" link at the top or bottom of this page.