WASHINGTON, D.C. – (RealEstateRama) — Ed Brady, chairman of the National Association of Home Builders (NAHB) and a home builder and developer from Bloomington, Ill., issued the following statement regarding the First-time Homebuyer Credit Act, legislation introduced last night by Sen. Ron Wyden (D-Ore.):
“NAHB commends Sen. Wyden’s creative proposal to spur homeownership by providing first-time home buyers a refundable tax credit equal to 2.5 percent of the purchase price of their home up to a maximum credit of $10,000. This measure recognizes the need to help young families get a leg up on the homeownership ladder. We look forward to working with Sen. Wyden as the bill moves forward.”
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