New Housing Bills

Take a look at the Housing Bill passed in the House yesterday and expected to pass Senate today or tomorrow and the President has suggested he'll support...here's a nice overview.

Couple tidbits...new tax deduction for first-time home buyers of $7.500 or 10% of the purchase price, whichever is smaller. Also, a new $500/$1,000 tax deduction if you're a homeowner who takes the standard deduction.