Housing Economics - 11/19/2008 (Plain Text Version)

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In this issue:
Housing Starts and Permits Fall to Record Low Levels
The 2009 International Builders' Show - Jan. 20-23, 2009
Special Study: The First-Time Homebuyer Tax Credit: A Primer
Housing Market Statistics At-A-Glance

Special Study: The First-Time Homebuyer Tax Credit: A Primer

The Housing and Economic Recovery Act of 2008 (H.R. 3221), enacted into law on July 30th, 2008, established a number of new programs intended to stimulate the housing market. One of these provisions is the temporary first-time homebuyer tax credit. The tax credit provides an incentive for new homebuyers to enter the housing market, thereby reducing housing inventories and taking some of the downward pressure off house prices.

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