$15,000 Homebuyer Credit – Will it Help?
Biden has been proposing a $15,000 homebuyer tax credit that could help a ton of people be able to afford a home as opposed to renting. Let’s look at some positives and negatives. Positives It’s a $15,000 savings! That’s huge when “Over the past 20 years, we estimate that renters have been able to save only 2.4% of their income, approximately $440 per year in today’s dollars.” (Parrott & Zandi, 2021) The typical renter is spending so much in rent and is unable to save hardly