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AirTalk

To combat unemployment, home-buyer credit renewed and jobless benefits extended

By AirTalk Staff
Published Nov 5, 2009
Pamphlets sit on a table during the Senior Job Fair at the Arcadia Community Center on October 2, 2009 in Arcadia, California.
Pamphlets sit on a table during the Senior Job Fair at the Arcadia Community Center on October 2, 2009 in Arcadia, California.
(
David McNew/Getty Images
)
Listen 13:01
To combat unemployment, home-buyer credit renewed and jobless benefits extended
The Senate has extended tax credits for first-time home buyers, due to expire November 30, as part of plan to combat high rates of unemployment. Current homeowners would also eligible for a $6,500 credit when buying a new residence. The bill also extends jobless benefits, particularly in states where unemployment exceeds 8.5%. The House expects to vote on the measure today.

The Senate has extended tax credits for first-time home buyers, due to expire November 30, as part of plan to combat high rates of unemployment. Current homeowners would also be eligible for a $6,500 credit when buying a new residence. The bill also extends jobless benefits, particularly in states where unemployment exceeds 8.5%. The House expects to vote on the measure today.

Guests:

Chris Thornberg, Principal, Beacon Economics

Richard Green, Director, USC Lusk Center for Real Estate