Click Here

REALTORŪ Magazine Online: The real estate professional's business support tool.

OFFICIAL MAGAZINE OF THE NATIONAL ASSOCIATION OF REALTORS®

Daily Real Estate News  |  March 1, 2010  |   Move-Up Tax Credit Having Little Impact
The $6,500 move-up tax credit isn’t significant enough to have much of an impact on the housing crisis, housing experts say.

The percentage of current home owners who are considering buying was unchanged from January, a traditional slow month, to February, when business is usually better, according to a poll of 1,500 real estate agents by Campbell Communications and Inside Mortgage Finance.

"You've got a really big problem that requires big guns, and the tax credit is just not big enough," says Roberton Williams, senior fellow at the Tax Policy Center in Washington.

The credit "is hardly registering on the economic Richter scale," says Patrick Newport, an economist with IHS Global Insight.

Source: Associated Press, Adrian Sainz (03/01/2010)

Browse all of today's news
E-mail this page to a friend
Give us feedback

Search news
Launch my search
 
Subscribe to news
Subscribe to News
Daily and weekly real estate news, trends, NAR press releases, convention coverage, plus exclusive features and columns.

RSS Feed
Get the Daily Real Estate News delivered straight to your desktop or news aggregator. (New to RSS? Learn the basics here.)
 
 
SHARE YOUR INSIGHTS
How did you sell it?
Tell us how you overcame hurdles to sell a challenging or very unique listing!