Chicago Relocation

Homebuilders undecided on tax credit effectiveness

May 4, 2009

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Real Trends recently reported that The John Burns R. E. Consulting Company recently surveyed homebuilders with the question A “Do you think the $8,000 Federal home buyer tax credit will boost your new home sales?”  The result?  An even split! Half saw no impact, and half thought it would be minor at best.“We interpret this feedback to mean that sales will not improve substantially,” said Burns.  ”As we stated in our December 15, 2008 white paper “Unlocking the Housing Market,” it will take far more stimulus to get buyers to return to the market.


While this poll did not specifically address Chicago Real Estate in is indicative of the feelings many builders have here and across the nation.  On the other hand, last month’s sales numbers were up, so those optimists have a few things to smile about.


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