The Real Deal Miami

Realtors sign off on stimulus plan

November 10, 2008 05:15PM

The directors of the National Association of Realtors, meeting in
Orlando today, proposed a real estate stimulus plan that calls for a
temporary $7,500 tax credit for first-time home buyers and a temporary
federal drop in mortgage rates to 4.5 percent or less. The realtors
also urged the federal government to make permanent the recent
increases in FHA, Fannie Mae and Freddie Mac loan limits. The group’s
CEO, Dale Stinton, said the proposals would cost $100 billion per year
and should extend for two years.