(New York Times) — The Home Buyer Tax Credit contained in the American Recovery and Reinvestment Act of 2009 has been given much credit for buoying the housing market. But recent housing market data suggest that the credit’s effect was limited, even while it lasted.
The law passed in February 2009 included a temporary 10 percent capped tax credit for qualified first-time home buyers that expired April 30, 2010. The program was later expanded to include repeat home buyers, and recently home buyers were given until September 2010 to complete qualified transactions.
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