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Builders push home buyer tax credit

Real estate roundup

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NAHB issues 'all-out' call to Congress The National Association of Home Builders today announced that the trade group "has initiated an all-out effort to get Congress to pass ... stimulus legislation" that includes a temporary home buyer tax credit. The credit is intended to encourage home purchases by first-time buyers. The trade group has placed ads in The Washington Post, USA Today and Capitol Hill-focused publications Roll Call and Politico in reaching out to members of Congress. In addition to the tax credit, the legislation supported by NAHB also includes provisions related to FHA modernization, reform of government-sponsored mortgage entities Fannie Mae and Freddie Mac, and changes to the Low Income Housing Tax Credit, among other items. California home construction still slow in May California new-home production in May continued to lag behind last year's production levels as home builders continued to grapple with low demand due to the glut of forec...