Released: October 21, 2009

White House skeptical on renewing home buyers credit

Source: Corbett B. Daly, Reuters (USA Today)

The Obama administration is still considering whether to back extending a popular tax credit for first-time home buyers but is skeptical the government can afford the cost, Housing and Urban Development Secretary Shaun Donovan said Tuesday.

The $8,000 tax credit, which will expire at the end of November, has boosted home sales in recent months, helping to revive a flagging housing market that had been a key factor driving the recession.

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