Digg This
Talk Back
Post a Comment
|
|||||||
HousingZone Most Popular Stories
- Home Mortgage Rates Set to Move Higher Next Spring
- Tax Credit Extension to Give Housing Recovery a Boost
- Design Challenge Winners Tackle the Multigenerational Household
- The Energetic Discipline Behind Professional Builder's Builder of the Year
- What remodelers need to know about the new lead paint rules
- Remodelers Tighten Up Labor Costs to Stay Afloat
- Use abandoned phone numbers to boost remodeling business
- What Today's First-Time Buyers Want in a New Home
- 100 Best New Products 2009
- Remodeling market down, but remodelers expect recovery
Builders Ready to Work with White House, Congress to Extend Home Buyer Tax Credit
The NAHB is reaching out to the White House to get the Home Buyer Tax Credit extended
NAHB News Release
October 7, 2009
HousingZone
WASHINGTON, Oct. 6 — The National Association of Home Builders (NAHB) commended the White House for recognizing the success of the $8,000 first-time home buyer tax credit and that extending the program past its Dec. 1 expiration date will help to bolster the economy. "The tax credit has clearly had a positive effect on housing demand and in the job market," said NAHB Chairman Joe Robson, a home builder from Tulsa, Okla. "We stand ready to work with President Obama and the Congress to extend and enhance the tax credit to help reduce foreclosures and excess housing inventories, to stabilize home values and to push housing and the economy on a glide path to recovery."
NAHB estimates conservatively that approximately 200,000 additional home sales are attributable to the tax credit and that it has resulted in a net increase of 187,000 jobs. Extending the credit through Nov. 30, 2010 and making it available to all purchasers of a principal residence would result in an additional 383,000 home sales and generate 347,000 new jobs in the coming year.
White House Press Secretary Robert Gibbs said yesterday that "there has been quite a bit of success" with the home buyer tax credit. He added that President Obama is considering extending the tax credit to strengthen the economy and create jobs.
"Housing is the best opportunity to put this country back to work. Prompt congressional action on the tax credit is a crucial first step to shoring up the fragile housing recovery and leading the economy to higher ground," said Robson.
ABOUT NAHB: The National Association of Home Builders is a Washington, D.C.-based trade association representing more than 200,000 members involved in home building, remodeling, multifamily construction, property management, subcontracting, design, housing finance, building product manufacturing and other aspects of residential and light commercial construction. Known as "the voice of the housing industry," NAHB is affiliated with more than 800 state and local home builders associations around the country. NAHB's builder members will construct about 80 percent of the new housing units projected for 2009.
© 2009, Reed Business Information, a division of Reed Elsevier Inc. All Rights Reserved.
