Monday, August 30, 2010

Report: No discussions underway to revive housing tax credit

by Bill McBride on 8/30/2010 02:33:00 PM

Last night I posted some comments from HUD Secretary Shaun Donovan. From CNN's "State of the Union" transcript:

[CNN's Ed] HENRY: Is that housing credit now dead? Or does the administration think you should try to revive it to try to prop this industry up?

DONOVAN: Look, Ed, I think it's too early to say after one month of numbers whether the tax credit will be revived or not. All I can tell you is that we are watching very carefully.
Diana Olick at CNBC contacted HUD today: Another Home Buyer Tax Credit?
[A] HUD spokesperson ... responded: "No news here...there are no discussions underway to revive the credit."
Hopefully the tax credit is done.