Document Type

Article

Publication Date

2011

Publication Source

John Marshall Law Review

Abstract

In 2008, faced with a looming real estate crisis, Congress hastily acted to stabilize the economy by offering a first-time homebuyer credit. This tax credit was trumpeted as a solution to the excess inventory of homes for sale and to stop the free-fall in home values. The credit, however, failed to deliver on its promises. By analyzing the first-time homebuyer credit, its creation, its implementation and its economic impact, this Article concludes that, when compared to alternative policy solutions, Congress erred in using the tax code to implement a first-time homebuyer credit.

Inclusive pages

23-50

ISBN/ISSN

0270-854X

Document Version

Published Version

Comments

The John Marshall Law Review is an open-access journal. This document is provided for download with the permission of the author and in compliance with the publisher's policy on self-archiving. Permission documentation is on file.

Publisher

The John Marshall Law School

Volume

45

Peer Reviewed

yes