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President Biden wants to give homebuyers a $10,000 tax credit. Here's who would qualify.
Cbsnews ^ | 03/08/2024 | Aimee Picchi

Posted on 03/09/2024 5:50:05 PM PST by ChicagoConservative27

Buying a home has become increasingly out of reach for Americans, who are grappling with a double whammy of high interest rates and surging home values. In his State of the Union address on Thursday, President Joe Biden proposed a new tax credit that would provide $10,000 to first-time home buyers.

Biden is also proposing a separate $10,000 tax credit for current homeowners who sell their "starter home" in order to jump into a bigger house. That could help melt a real estate market in which homeowners who locked in low mortgage rates during the pandemic and are hesitant to move because they now face significantly higher mortgage rates.

(Excerpt) Read more at cbsnews.com ...


TOPICS: Business/Economy; Culture/Society; Front Page News; Government; News/Current Events; Politics/Elections
KEYWORDS: adamsmith; bastiat; biden; credit; debt; deficit; freeenterpise; homebuyers; housing; inflation; realty; tax
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To: ChicagoConservative27; All

Buying more votes.


41 posted on 03/09/2024 11:56:01 PM PST by Cobra64 (Common sense isn’t common anymore)
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To: ChicagoConservative27

So give up your 3% loan and take a 7% loan for 10K ? Most people won’t go for
That


42 posted on 03/10/2024 12:39:11 AM PST by 11th_VA (Celebrate Climate Change !!!)
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To: ChicagoConservative27

They have done this before, maybe 15 yeas ago. The credit in reality should be about $25,000 given the cost of homes right now. I am sure the Realtor Assoc. will be in full favor of this.


43 posted on 03/10/2024 12:43:54 AM PST by Captain Peter Blood
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To: Jonty30

like the student loan scam this is for people of color only


44 posted on 03/10/2024 3:50:24 AM PDT by ronnie raygun
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To: ChicagoConservative27

.


45 posted on 03/10/2024 5:53:03 AM PDT by sauropod (Ne supra crepidam.)
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To: Jonty30

Indeed but the replacements do.


46 posted on 03/10/2024 8:11:00 AM PDT by Vaduz
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To: ChicagoConservative27

Wet backs only. No US citizen need apply


47 posted on 03/10/2024 10:21:54 AM PDT by PIF (They came for me and mine ... now its your turn)
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To: MtnClimber

  

48 posted on 03/10/2024 4:13:31 PM PDT by Elsie (Heck is where people, who don't believe in Gosh, think they are not going...)
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To: Leaning Right

I just helped folks not HAVE to look it up.


49 posted on 03/10/2024 4:14:34 PM PDT by Elsie (Heck is where people, who don't believe in Gosh, think they are not going...)
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To: ProtectOurFreedom

Think of it as the cost to rid ourselves of turbulent tweets.


50 posted on 03/10/2024 4:16:09 PM PDT by Elsie (Heck is where people, who don't believe in Gosh, think they are not going...)
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To: TheConservator

I worked for the Navy department for 29 years, and had to look it up.

(Red Lobster helped some)


51 posted on 03/10/2024 4:17:45 PM PDT by Elsie (Heck is where people, who don't believe in Gosh, think they are not going...)
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To: clearcarbon

Oh, more - MUCH Mmore than that! There has to be these behind the scene folks who handle all the paperwork involved here, and the building(s) they work in, and the utilities they require, and...


52 posted on 03/10/2024 4:20:57 PM PDT by Elsie (Heck is where people, who don't believe in Gosh, think they are not going...)
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To: 11th_VA

Sure they will!

Most are just like dogs with a bone in their mouth, seeing their reflection in the water.


53 posted on 03/10/2024 4:22:16 PM PDT by Elsie (Heck is where people, who don't believe in Gosh, think they are not going...)
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