The Real Deal Miami

$20,000 tax credit needed for buyers of foreclosed homes, broker says

March 18, 2009 10:16AM

Broker, radio host and columnist John Adams talks to CNN about foreclosed homes and the effect they have on their neighborhoods. Empty houses attract vagrants and crime and go into disrepair, according to Adams, who is based in Atlanta. Adams said he thinks the federal stimulus package is a strong first step, but he would like to see a $20,000 tax credit for buyers of foreclosed homes. At the same time, he said, not every American needs to own a home.