Housing and Econmic Recovery Act of 2008 in Detail | Atlanta Real Estate

An Expert Analysis of the Housing and Economic Recovery Act of 2008

Posted by Laura Everett on August 18th, 2008

There has been much talk recently about the Housing and Economic Recovery Act of 2008, specifically the temporary first-time homebuyer tax credit, and how it is going to impact the real estate industry. Many new homebuilders are using incentives in conjunction with the federal housing tax credit to encourage first-time homebuyers to get involved in the Atlanta real estate industry. The tax credit is the most publicized aspect of the new legislation because it is the most appealing for the home buyer. However, there is much more to the housing stimulus legislation than the tax credit including reforms to the FHA and GSE as well as mortgage protection at the state level, and Steve Palmer, the president of the Greater Atlanta Home Builders Association, has broken down each aspect of the new law and described exactly how it is going to affect the housing market for buyers and homeowners in an online article. This is a great resource for everyone that wants to better understand the Housing and Economic Recovery Act and why it will help us out.