First Time Buyers Credit Can Only Help Housing

Do you know the value of "a day"? The major single item that should help the economy in America was signed off yesterday in the 2009 Stimulus Bill, the item in that bill I speak of is a first time buyers home credit of $8,000. (You nor your spouse or significant other Cannot have owned a residence in the past three years.) As this Credit is publicized it should breath some relief into the system. You must reside in the property for 3 years, and you will take the credit during your income tax preparation, as long as you purchase 1/1/2009-12/31/2009. Should you only live there two years, then upon selling you will would have to pay the entire sum back. There are some other rules for it, but these are the most important ones. If this bill doesn't help to stimulate the housing industry enough so it can get back on it's feet, then we will complete the collapse.