San Diego Real Estate Market will be boosted by President’s Proposal

President Proposes Extension Of Homebuyer Tax Credit

In light of the worsening  unemployment numbers that just came out The White House has begun talks with Congressional Democratic leadership on moves to extend health insurance subsidies, the $8,000 first-time home buyer tax credit and jobless benefits.

These moves were recently designed by White House economic advisers as an act of economic  triage aimed at millions of those out of work and a stagnant economy.

President Obama also said that here would be major announcements at a press conference this Friday at the White House.

“I’m working closely with my economic advisers to explore any and all additional options and measures that we might take to promote job creation,” Obama said after the Labor Department reported that 263,000 Americans lost jobs in September and the unemployment rate rose to 9.8 percent.

The Housing Angle. Groups have been calling for the extension of the $8000 First Time Tax Credit which is due to expire November 30th. In recent Home Actions articles we covered this provision and how it impacts all homeowners. It is becoming quite clear that housing is a major factor in any economic expansion.

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