Extension of the Housing Credit a Possibility
The National Association of Homebuilders (NAHB) has written an article explaining the predicted outcome of extending the housing tax credit. They predict that extending the housing credit for another year would create 350,000 jobs and promote 82,000 new house starts. This would boost the overall health of the economy and stimulate the housing market. You can read the report at this site. In addition they have created a page to send a letter to Congress to show your support for extending this credit. Click here for the letter.
October 26th, 2009 at 7:18 pm
I’m against extending the tax credit. However, this is the first I’ve heard that 350,000 jobs would be created by an extension.
If it does get extended, and the jobs are created, did the report say that the jobs would go away when the tax credit expires?
October 27th, 2009 at 2:13 pm
Hi Jayson. The article doesn’t go into if the jobs will stick around when the tax credit expires. Of course the theory is that the market will be sufficiently stimulated to sustain itself prior to the expiration of the credit. Personally, I’m not sure artificial stimulation is really a great idea or that it promotes continuity.