Oct 2009 26

First-Time-Homebuyer-Tax-Credit-framed

Attention 1st Time Buyers! Better Act Fast if you want your Tax Credit…

Today’s Bloomberg reports that The U.S. Congress will probably phase out the tax credit for first-time home buyers, according to a note sent by ISI Group Inc.’s Washington research analysts.

“There could be an agreement reached as early today on the Reid/Baucus amendment that would PHASE OUT (not extend, as we originally understood when the idea was first proposed last week) the home buyer tax credit,” ISI analysts said in the note. “The phase out is worse than a straight extension and probably worse for housing than the consensus.”

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