A combination of factors, both political and economic, have served to delay the onset of a sustained and successful housing recovery. Major efforts to prevent foreclosures are just now beginning to bear fruit, low interest rates and low home prices are serving only the needs of a select and savvy group of consumers and investors, and the prospects of meeting the pent-up demand for housing among low- moderate- and middle-income minorities and others still loom ahead in the horizon.
We must work to ensure that these home buyer tax credits ultimately and effectively reach all qualified mortgage ready borrowers, including minorities and immigrants. It is therefore essential that we should advocate for their continuation at least through the next fiscal year.
A combination of factors, both political and economic, have served to delay the onset of a sustained and successful housing recovery. Major efforts to prevent foreclosures are just now beginning to bear fruit, low interest rates and low home prices are serving only the needs of a select and savvy group of consumers and investors, and the prospects of meeting the pent-up demand for housing among low- moderate- and middle-income minorities and others still loom ahead in the horizon.
We must work to ensure that these home buyer tax credits ultimately and effectively reach all qualified mortgage ready borrowers, including minorities and immigrants. It is therefore essential that we should advocate for their continuation at least through the next fiscal year.