No Housing Tax Credit in Compromise Stimulus

February 11, 2009 at 8:02 pm Leave a comment

Since I have a Federal Job, the part of the stimulus bill bill that will help me out was the $15,000 tax credit.  However, the AP reports that provision has been eliminated from the bill

Too bad.  The tax credit would have helped single, upper-middle class professionals like myself that are able to buy property that live in expensive housing markets like California.  People like me stayed away from the market because the cost of the housing was too expensive and I would not purchase property if was above $300,000.

I never bought property because I had issues with independent living skills that are result of my disability.  And with this market, I look back and I glad that I made the right decision

Without the tax credit, it still puts a lot of people who have worked hard, saved, and rented all of these years out of the housing market in expensive housing markets like Southern California.  Instead, those homes will remain empty until the price dips even further

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