Builders Ready to Work with White House, Congress to Extend Home Buyer Tax Credit.WASHINGTON -- The National Association of Home Builders The National Association of Home Builders (NAHB) is one of the largest trade associations in the United States. Headquartered in Washington, DC, the association organizes one of the largest conventions in North America, The International Builders' Show, which draws more than (NAHB NAHB National Association of Home Builders NAHB National Academy of Health and Business (Canada) ) today commended the White House for recognizing the success of the $8,000 first-time home buyer tax credit and said that extending the program past its Dec. 1 expiration date Expiration Date The day on which an options or futures contract is no longer valid and, therefore, ceases to exist. Notes: The expiration date for all listed stock options in the U.S. will help to bolster the economy. "The tax credit has clearly had a positive effect on housing demand and in the job market," said NAHB Chairman Joe Robson, a home builder from Tulsa, Okla. "We stand ready to work with President Obama and the Congress to extend and enhance the tax credit to help reduce foreclosures and excess housing inventories, to stabilize stabilize See peg. home values and to push housing and the economy on a glide path to recovery." NAHB estimates conservatively that approximately 200,000 additional home sales are attributable to the tax credit and that it has resulted in a net increase of 187,000 jobs. Extending the credit through Nov. 30, 2010 and making it available to all purchasers of a principal residence would result in an additional 383,000 home sales and generate 347,000 new jobs in the coming year. White House Press Secretary Robert Gibbs Robert Gibb RSA (28 October 1845 - 11 February 1932) was a Scottish painter who was Keeper of the National Gallery of Scotland from 1895 to 1907 and was Painter and Limner to the King from 1908 until his death. said yesterday that "there has been quite a bit of success" with the home buyer tax credit. He added that President Obama is considering extending the tax credit to strengthen the economy and create jobs. "Housing is the best opportunity to put this country back to work. Prompt congressional action on the tax credit is a crucial first step to shoring up Noun 1. shoring up - the act of propping up with shores propping up, shoring supporting, support - the act of bearing the weight of or strengthening; "he leaned against the wall for support" the fragile housing recovery and leading the economy to higher ground," said Robson. ABOUT NAHB: The National Association of Home Builders is a Washington, D.C.-based trade association representing more than 200,000 members involved in home building, remodeling remodeling /re·mod·el·ing/ (re-mod´el-ing) reorganization or renovation of an old structure. bone remodeling , multifamily construction, property management, subcontracting, design, housing finance, building product manufacturing and other aspects of residential and light commercial construction. Known as "the voice of the housing industry," NAHB is affiliated with more than 800 state and local home builders associations around the country. NAHB's builder members will construct about 80 percent of the new housing units projected for 2009. |
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