There has been plenty of talk in Washington this week about whether to extend and perhaps even expand the tax credit for home purchases.
All those months of cutting production and unloading inventory homes may finally be over for home builders, according to an IHS Global Insight online presentation on the construction market.
As builders rush to sign contracts and start homes in advance of the Nov. 30 deadline for using the federal housing tax credits for first-time buyers, the NAHB and other groups have begun advocating for an extension.
Home prices in many markets have fallen to levels not seen since 2002 and 2003, but that's still too costly for many working families, according to the National Housing Conference's annual "Paycheck to Paycheck" study.
First-time home buyers are taking advantage of the housing downturn and federal housing tax credit to jump into the market.