July 26, 2008

Congress Passes the Housing Bill

Over objections of some who say there are too many concessions to "special interests" housing legislation moves to the White House for President's signature

Congress passed by overwhelming majorities the housing and mortgage relief bill described yesterday in this blog and elsewhere in the press. Among the provisions is a tax credit of $7500 to first time homebuyers, which is designed to move some of these hesitant buyers into their own homes and make up for the continuing rising interest rates that they have faced this year. If enough buyers begin to purchase, more of the overhang of housing inventory will clear up.

For the full story on the Congressional action today, click here for the New York Times article.

To buy or sell Flagstaff real estate -- including all you first time homebuyers! -- contact Team Heitland at RE/MAX Peak Properties.


	Details of Housing and Mortgage Relief Bill
	To the extent the details of this extensive and complex legislation are known at this time, here is a good summary
	http://blog.bestflagstaffhomes.com/public/blog/178438