Last week, the Fix Housing First Coalition, a group of housing stakeholders and spearheaded by the NAHB, recently launched a housing recovery plan to boost the US economy.
Fix Housing First consists of more than 600 organizations. The goal is to push for a stimulus package to thwart declining home values and spur on economic growth.
Among other things, the coalition is asking congress to support a below-market 30-year fixed rate mortgages for home purchases.
In 1974, Congress passed a similar recovery plan which included a short-term $2000 tax credit for all new homes, along with subsidized mortgage rates.
What are your thoughts? Would this work? Do stimulus packages such as this one drive the economy?
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