By all accounts, the $8,000 tax credit has been a big motivator for first time home buyers. The National Association of Realtors estimates 350,000 sales would not have happened without it.
So naturally the group is pushing Congress hard for its renewal and expansion. The N.A.R wants to expand the credit to $15,000, extend it to all home buyers and let it run into next summer. That’s a tall order, such a plan would cost between $50 and $100 billion.
Economists are split on the issue. What do you think?
Credit: New York Times article