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Good day all........while I know this is off topic of " code " , I felt it
was of interest to all of us in the business.... Let's hope Congress can "
help " bail us out so we can continue to do what we all do best....... Diva 
 
Homebuilders: We Need A Tax Credit Pronto!

Monday, September 29, 2008 11:12 AM

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U.S. Homebuilders will be asking Congress to pass a $15,000 tax credit for
all home buyers, double the current assistance offered now to just
first-time buyers. 
The industry has taken $19 billion in losses since 2006. Builders believe
the credit will help reignite interest in homes after multiple quarters of
declining home values. 
“The tax credit passed in July seems to have failed to have sparked interest
 We are hearing from high volume and small volume builders that it has had
no impact,” Jerry Howard, the chief executive officer of the National
Association of Home Builders, said in a published interview. 
“Once Congress passes this bailout plan, we will talk to them about a second
stimulus package and an enhanced tax credit.'' 
Home sales fell again in August, down 11.5 percent annually, reports the
Commerce Department, and off 34.5 percent from the previous August, the
lowest it has been since January 1991. 
"This report is yet another example of how the housing sector is suffering
the effects of the financial meltdown and extreme tightening of consumer and
business credit," Sandy Dunn, president of the National Association of Home
Builders (NAHB) said while attending the association's board of directors
meeting in San Diego. 
"Now is the time for Congress to come together in a bipartisan fashion to
pass a financial rescue plan that stabilizes financial markets and gets at
the root problems of declining home values and rising foreclosures,” she
said. 
The major downshift in new-home sales in August reflects a weakening economy
and job market as well as tight mortgage credit market conditions, according
to NAHB Chief Economist Dave Seiders. 
"And this occurred well before the most recent round of financial market
turmoil, accentuating the urgent need for immediate action on the
administration's financial rescue plan,” Seiders says. 
© 2008 Newsmax. All rights reserved.
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