It's Working!

"I am in Sales and this $8,000 tax credit has definitely been a catalyst to new home sales and would continue to be in all of our neighborhoods. We certainly hope this can be extended to continue to rebuild our economy. "

Sue
Maryland

"Since late May, it is obvious that the homebuyer credit has worked. Most [buyers] say that they would not have bought had it not been for the credit. I employ 9 people in two offices. If the tax credit had not been there, I would have certainly laid off at least one employee and maybe two. Yes, it has helped. By extending the credit to all buyers and upping to $15,000, the market would be energized. "

Michael
Tennessee

"The tax credit was a huge incentive and gave me the confidence to go forward towards a new home purchase. Without the tax credit, I would not have become a homeowner. If this tax credit goes away, I think you take away consumer confidence and the housing market with it. "

Curtis
Reno

"We increased our production output 100% for a five week period to meet the demand generated by the tax credit. It has helped our sales, and the businesses of all of our suppliers and trade partners. "

Sean
North Carolina

"I have owned a plumbing company for 30 years. In the last 2-years we have dropped from 60 to 32 to 8 plumbers. We specialize in new homes. Since the $8000 incentive, we have been able to get back up to 20 plumbers, so it has helped a lot. I hope that they extend it out further also."

Ron
Ohio

"I wanted to let you know that the tax credit helped me greatly. I'm 35 years old and single, and finally purchased my first home on June 5, 2009. I purchased a brand new home in Mesa, Arizona and am loving it. It feels so good to finally be a homeowner. Sometimes I sit back and can't believe it's actually mine. "

Krista
Arizona

"Housing historically has been a key factor in helping the economy pull out of a recession. Extending the credit will help reduce the supply of houses for sale, stabilize prices and return housing to its rightful place in the economy."

Bernard Markstein
Senior Economist for the NAHB.

"Our entire economy would be the beneficiary of these new sales. Extending the tax credit to all home purchases could be just the boost our housing market needs."

Rep. Howard Coble, R-NC

"Home sales and prices are showing stabilizing signs. The sales data, by the way, have gotten a nice boost from our First Time Home Buyers Credit. And consumer confidence is solidly up, too."

Jared Bernstein
Executive Director of the Middle Class Task Force and the Vice President's Chief Economist - White House Blog, The Recovery Act in Action

"It's crucial that ...lawmakers extend the soon-to-expire credit through 2010. And if they want to bolster the fledgling recovery, they'll expand eligibility. "

Mercury News Editorial September 3. 2009

"The $8,000 first-time homebuyer tax credit - is working precisely as planned, stimulating demand amid record-high unemployment and economic uncertainty."

Mercury News Editorial September 3. 2009

"Because the Homebuyer Tax Credit has been so successful in attracting first-time buyers, we recommend that it be expanded..."

Democratic Leadership Council

"One of the reasons the housing market has firmed up this summer is the tax credit..."

Mark Zandi
Chief Economist with Moody's Economy.com, who supports expanding the credit to up to $15,000 for all buyers.

"Economic conditions remain dire and the federal tax credit for first-time homebuyers expires at the end of the year, but available monthly data since May 2009 suggest that the broad decline has ceased."

Jeannine Cataldi
Senior Economist and Manager of IHS Global Insight's Regional Real Estate Service

"... some of the recent demand for housing is being stoked by the government's tax incentive, which expires December 1... there are more people out there trying to take advantage of the credit and demand is up... Once this incentive goes away, sales are going to take a hit."

Patrick Newport
Economist, IHS Global Insight