Biden's housing policy has a few major ideas, and a laundry list of new programs and new money for old programs. Let's look at each and then end with a laundry list of the new and expanded housing programs in Biden's housing policy plan. 1) $15,000 First Down Payment Tax CreditThe First Down Payment Tax Credit would be a new refundable, advanceable tax credit of up to $15,000 for first-time home buyers. In some metropolitan areas, house prices actually increased after the tax credit started but after the tax credit ended in 2010, prices started to fall again in those metros. Even though it was much smaller than the proposed Biden plan, the 2009 $8,000 tax credit had a huge impact on house prices.

Source: Forbes September 05, 2020 10:10 UTC