Housing recovery will get a boost from extended home buyer tax credit
New home construction has been approximately steady since the large jump in June spurred by federal pump priming with the $8,000 first time buyer tax credit and a variety of programs to delay foreclosures and reduce monthly mortgage payments for existing homeowners. Resumed recovery is expected around yearend with an extension and expansion of the homebuyer tax credit, says Reed Construction Data chief economist Jim Haughey.
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Housing recovery will get a boost from extended home buyer tax credit
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