Realtor in Middle Tennessee gives feedback on Biden’s Housing Tax Credit Proposal as a solution to housing.
President Biden’s Housing Tax Credit Proposal: Can This Put A Dent In Middle Tennessee’s Housing Affordability Crisis? (Photo: Yahoo Finance)
President Joe Biden said he wants to help first-time homebuyers that’s the purpose of his Housing Tax Credit Proposal
However, the Middle Tennessee realtor said that President Biden’s Housing Tax Credit Proposal can put a dent in Middle Tennessee’s housing affordability crisis. That’s the local realtor’s question about the Housing Tax Credit Proposal.
President Joe Biden said during his last address that he wants to provide an annual housing tax credit that will give Americans $400 a month for the next two years, as mortgage rates come down, to put toward their mortgages when they buy their first home for a little more space.
Jeff Checko, an Ashton Real Estate Group of RE/MAX Advantage said that the housing tax credit could be a help for some buyers but he called this housing tax credit proposal solution a band-aid. He added that the real solution is to get inflation under control to get supplies down on cost.
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In his Biden Housing Tax Credit Proposal, the first tax credit is $5,000 over two years for first-time homebuyers in the middle class. He said he wants two new tax credits to help Americans afford homes but this Housing tax credit would need Congress to sign on.
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