From the monthly archives:

October 2009

Homebuyer Tax Credit May Be Approved Early Next Week, Reid Says

October 31, 2009
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Congress could approve extensions of an $8,000 first-time homebuyers’ tax credit and unemployment benefits as soon as Nov. 3, Senate Majority Leader Harry Reid said. Reid, a Nevada Democrat, said today he has scheduled a vote late on Nov. 2 to bring debate on the issues to a close and clear the way for approval […]

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Obama Highlights Fresh Signs Of Economic Growth

October 31, 2009
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President Barack Obama said Saturday that reports the economy is growing again and that more than 1 million jobs were saved or created by his stimulus plan show “we are moving in the right direction.” But he tempered his upbeat message with a cautious word about further job losses and progress yet to be made. […]

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Homebuyer Tax Credit Extension Backed By Obama Administration

October 29, 2009
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The Obama administration endorsed plans to extend an $8,000 tax credit for first-time homebuyers, saying it is helping stabilize the nation’s housing market. The tax break, enacted earlier this year as part of an economic stimulus package, has “brought new families into the housing market and contributed to three consecutive months of rising home prices,” […]

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Has The Real Estate Market Bottomed?

October 29, 2009
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Some positive housing statistics have come out recently. The Case-Shiller index, which tracks changes in the values of residences in 20 metropolitan areas in the U.S., is up 2.9% in the second quarter. The previous quarter it was down 7.9%. The consumer confidence index was 54.5 in August, up from 47.4 in July. But does […]

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Move-Up Buyers To Get Homebuyer Tax Credit

October 29, 2009
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A deal struck among key senators last night to extend the homebuyer tax credit will broaden the benefit to include existing homeowners who are buying a new home as well as first-time homebuyers. Tax credit for move-up buyers will be less than for first-time buyers, but still significant. They will qualify for a credit of […]

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Economy Finally Back In Gear

October 29, 2009
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The U.S. economy grew at a 3.5% annual rate in the third quarter, ending a string of declines over four quarters that resulted in the most severe slide since the Great Depression. The growth, reported by the government Thursday morning, was slightly stronger than expectations. Economists surveyed by Briefing.com had forecast 3.2% growth in gross […]

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Home Buyer Credit Gets New Life

October 29, 2009
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Senate negotiators reached a tentative deal to extend a tax credit for first-time home buyers, but its passage remains uncertain. The agreement would extend the existing credit for first-time home buyers, worth up to $8,000, while offering a new credit of up to $6,500 for some existing homeowners, Senate aides said. The reduced credit would […]

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Senate Likely To Extend Homebuyers’ Tax Credit

October 29, 2009
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Senate leaders have reached a tentative deal to extend the first-time homebuyers’ tax credit that was originally passed earlier this year as part of the stimulus bill, Republican and Democratic sources told CNN on Wednesday. The agreement would extend and expand the credit to include current homeowners who want to move, according to the sources. […]

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Housing Prices Are Rebounding

October 28, 2009
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No one seems quite prepared yet to proclaim that we’ve seen the bottom in housing, but from the looks of this chart the bottom occurred quite awhile ago. After adjusting for inflation (I’m using the PCE deflator here), real home prices have risen four months in a row, at a 12% annualized pace. Since the […]

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A Look At Case-Shiller, By Metro Area

October 28, 2009
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The S&P/Case-Shiller 20-city home-price index, a closely watched gauge of U.S. home prices, rose 1.2% in August from July in the fourth straight monthly increase, but prices remain below year-earlier levels. For the 17th straight month, no area in the 20-city index posted a year-over-year price gain. That put nationwide prices at levels seen in […]

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