The three main items that are being discussed to get the wheels of the housing market greased again are home buyer tax credits, below market interest rates on 30 year fixed mortgages and continued assistance on preventing foreclosures.
NAHB President and CEO Jerry Howard said the “The message we are sending to Congress — there are no large builders, no small builders, no low-income builders, no suppliers and no manufacturers,” he said. “We’re all in this together and we are all focused on the stimulus package. We are talking to our members
of Congress about a proposal crafted over the past several months that will fix both the supply and demand side of housing.”
There is no doubt that the housing industry is vital to our overall economy and will quickly benefit many Americans at all levels. Just listen to these #'s provided by NAHB Chief Economist Dave Crowe in a recent article on the NAHB website:
- The plan would result in 200,000 additional new home sales
- 1 million more existing home sales
- A boost in expected housing starts from 649,000 to 908,000, on par with last year’s level
- The plan this year would create more than 539,000 jobs, generating $26 billion in wages and salaries, $21 billion in business income and $28 billion in federal, state and local tax revenues.
Here in the Triangle, where we are better off then many in the country but still in need of a kick start, this hopefully means that a busy housing market is right around the corner. Contact your local Congress and Senate representative to let them know you want to see some action on housing as it is clear the time is now and the benefits are great!
Learn more about the fix housing first plan at http://www.fixhousingfirst.com/
