The Real Deal New York

Posts Tagged ‘jerry howard’

  • Jerry Howard, CEO of the NAHB

    With the so-called fiscal cliff on the horizon, lawmakers are considering a number of revisions to the mortgage interest tax deduction, the largest housing-related subsidy in the U.S. tax code, CNBC reported.

    Among the propositions on the table: capping the deduction at $500,000, capping it at $250,000, limiting the use of the deduction for taxpayers earning over $250,000, or eliminating it entirely. [more]

  • You may have seen reports that the federal government is proposing new mortgage finance rules under which only home purchasers who can afford a minimum 20 percent down payment on a conventional loan would get a shot at the best available interest rates and terms.

    That is correct, and it’s deeply sobering news for large numbers of first-time and moderate-income buyers who can’t come up with that much cash or afford to pay higher rates.

    But some of the other requirements that federal agencies and the Obama administration are proposing in the same plan have gotten much less attention, yet could prove just as troublesome for consumers: … [more]

  • With the Fed’s mortgage-buyup initiative over and the first-time homebuyer tax credit deadline looming, concerns abound over how the housing market will transition off of federal life support. Jerry Howard, head of the National Association of Home Builders, told the Wall Street Journal that he’s optimistic that we’ve hit bottom and that a double-dip housing recession is unlikely. “So far we’re seeing signs of stability,” Howard said. “I haven’t seen anything empirical that makes me think we’re going to go into a double-dip.” He did, however, concede that the end of the upcoming summer buying season will be a better time to gauge market strength and that it remains to be seen how the tax credit expiration will affect the industry.