Many people have taken advantage of either the first-time homebuyer tax credit or the repeat homebuyer tax credit, yet there are many analysts who say the housing market is still struggling and there needs to be something done so that people will buy more homes. One solution is to extend the already extended first-time and repeat homebuyer tax credit, but is this extension a possibility?
Those who feel the housing market is in a bad state hope that there is an extension and expansion of the tax credit, not just for first-time homebuyers and repeat homebuyers, but possibly to others looking into buying a home as well, like current homeowners that want to buy a new home.
However, many people feel the tax credit program for homebuyers was lackluster at best so there is little chance of the program being renewed. Also, those who feel the program will not see another extension believe that until unemployment is reversed and more American’s are put to work, there is little to be done to improve any area of the economy.
While there have been no announcements on a possible homebuyer tax credit extension, there are still a few weeks to go for the first cut-off date, which is April 30th. So, in the coming days there could be more talk about extending the program, but on the other hand, many feel that with no talks having occurred this late in the program, we are simply going to see the homebuyer tax credit fade away.