Daily Real Estate News | December 29, 2009
Will the housing tax credit be extended again – past the current April 30 deadline?Sen. Johnny Isakson, a Georgia Republican and former real estate practitioner, swore in October that there would be no more extensions, but some observers predict that the answer is yes.Jaret Seiberg, a managing director at research firm Concept Capital, predicts that Congress will choose to phase the credit out over six to 12 months. “We believe a phase-out is most likely because it would benefit housing markets but let Democrats argue they are fiscally responsible because they have designed an exit strategy that weans consumers off the subsidy,” she says.Source: The Wall Street Journal, James R. Hagerty (12/23/2009)