Home Buyer Tax Credit Ending

"No More Extensions of Tax Credit for Home Buyers"

The provision that puts up to $8,000 in buyers' pockets won't be renewed a third time, industry leaders and lawmakers say.

Reporting from Washington — Home buyers hoping to take advantage of a new or extended tax credit should not procrastinate: This third bite at the apple will be the last.

Proponents of the $8,000 credit for first-time buyers and the $6,500 credit for current homeowner buyers made it clear during the debate on Capitol Hill that the benefits would not be renewed when they expire. And a lobbyist for the National Association of Realtors confirmed that at the group's annual convention.

LA TIMES - HOUSING SCENE - By Lew Sichelman