The ongoing debate in the Congress regarding the housing stimulus bill has been settled. The bill has been watered down from its original tax break of $15000. According to this bill, a tax credit of $8,000 is being offered to a couple and $4000 to singles interested in buying their first home. However, there are certain conditions attached to the bill.

Conditions:

One of them may likely be that the home should be purchased between April 9, 2008 and April 1, 2009. The bill is said to provide a good push towards home ownership which is currently at one of its ebb. Experts suggest that homes are at their most affordable prices since 1970. Moreover, the appeal generated by the lower mortgage rates is also attracting first time home buyers.

Read the full story