Tax Credit Had ‘Fleeting’ Effect on Housing

07/20/2011 10:50 AM | Anonymous

Critics of last year’s $8,000 tax credits for home purchases routinely argued that the credits were unlikely to do more than offer sellers the chance to boost their sale price by the amount of the tax credit.

Those critics won’t be surprised, then, by a new paper that findsundefinedyou guessed itundefinedthat average listing prices rose by around $8,000 in the month after the signing of the first major tax credit, and that they fell by slightly less than $9,000 two months after the tax credits expired.

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