The President will reveal a set of new housing initiatives during the State of the Union address on Thursday that will include a tax credit of $5,000 per year for two years to first-time homebuyers and a one-year tax credit of up to $10,000 to households that sell their starter home.
Source: Inman News
Biden set to propose $5K tax credit for first-time buyers
Published in 2024 election, first-time buyers, home prices, homebuyer tax credits, inventory, Markets & Economy, mortgage rates, News Brief, President Biden, Select and tax credits
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