Decreases the number of foreclosures
Low home prices has contributed to the high number of foreclosures.  The tax credit creates demand for homes, thus increasing their price and avoiding some foreclosures.
Immediately related elementsHow this works
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What should Obama do next? »What should Obama do next?
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Economic and Social Policy? »Economic and Social Policy?
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Domestic Economic Policy? »Domestic Economic Policy?
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Response to the ongoing Financial Crisis? »Response to the ongoing Financial Crisis?
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Extend the first time homebuyers tax credit »Extend the first time homebuyers tax credit
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Decreases the number of foreclosures
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Increase in house prices is artificial and temporary »Increase in house prices is artificial and temporary
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May increase foreclosures later »May increase foreclosures later
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