The stimulus bill, formally named the “American Recovery and Reinvestment Act of 2009″ is broken up into several initiatives. However, we’re interested in how this will impact the housing industry specifically.

There’s an additional benefit for some homebuyers in the bill awaiting President Obama’s signature. First-time buyers can claim a credit worth $8,000 – or 10% of the home’s value, whichever is less – on their 2008 or 2009 taxes.

First-time buyers include people who have never owned a home before as [...]

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