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Favorable News for US Homeowners |
Article Submitted by: Jay Banks
Thursday, 19 November 2009
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In the United States, the GDP documented 3.5% increase in the third
quarter - for the first time in since the end of 2008. This good news
also continues within the housing market, which is now starting to
exhibit improvement. Is the United States finally on the path to recovery? Right now, the US property market is managing with 7.5 months' supply of merchandise. This sounds like quite a lot, but in comparison to January's 12.4 months' inventory, it is a great improvement. Eyes of most real estate agents (but also probable buyers) are now on one thing - the first time home-buyers' tax credit. The chance to acquire a $8,000 tax credit (or even cash back, if the recipient's income tax doesn't reach this level) has been a strong energizer for the US real estate market. But there is now ripples of nervousness running through those watching the market, as the possibility of these credits is due to finish. What will occur once the tax credit is no longer on the table? An extension bill is being written which, if passed, will prolong these tax credits until 2010. Senate has now cleared the way for the law, which may arrive with Obama this week or next. With a new end date of April 30, and an rise to $225,000 on the couples income threshold, this is a very pleasing bill. As not to miss anyone out there is also a $6,500 tax credit to be linked to the bill for those individuals who want to move-up. Potential property purchasers may be pleased with the new bill, it may be the incentive needed to keep the market moving, but how are these incentives going to be financed? Article Source: http://www.ArticleBlast.com |
About The Author:
An award winning Vancouver real estate agent Jay Banks has been helping people to find their dream home for nearly 20 years.
An award winning Vancouver real estate agent Jay Banks has been helping people to find their dream home for nearly 20 years.You are welcome to publish this article free of charge on your website, newsletter, or e-zine, provided:
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