Residential Real Estate News
Two Out of Three Americans Support $15,000 Home Buyer Tax Credit, New Poll Finds
(News Source: NAHB)
Washington, DC--Two-thirds of Americans support a $15,000 home buyer tax credit now being considered by Congress as part of its economic stimulus package and believe it will be effective in stimulating home sales, according to results from a new nationwide survey.
"This survey reinforces our view that the $15,000 home buyer tax credit in the Senate stimulus package will successfully tackle the housing and economic crisis head-on," said David Crowe, chief economist of the National Association of Home Builders (NAHB).
The national telephone survey was conducted by Voter Roll Call of Verona, N.J. on Feb. 8.
The survey of more than 1,200 registered voters found that one-third of all respondents and 61 percent of renters would be more likely to buy a home if the $15,000 home buyer tax credit were to be enacted into law.
"This is extremely significant because normally in any one year only about 5 to 7 percent of households purchase a home," said Crowe. "This is more evidence that this temporary, timely and targeted tax credit would trigger home sales, end the free-fall in the housing market, generate new jobs and help lead the economy back to higher ground."
In addition, 64 percent of respondents said it was important that the $15,000 home buyer tax credit be included in the final package that is signed into law.
The $15,000 home buyer tax credit will push folks off the fence the day the bill is enacted, helping to stop house price declines and bring confidence back to the housing market, added Crowe. "Congress must make sure that the full $15,000 tax credit remains in the final stimulus package."
