Former HUD secretary argues in favor of homebuyer tax credit

While the housing prices are showing signs of stability nationwide, the market is still tenuous, according to Henry Cisneros, who served as secretary of Housing and Urban Development for six years under the Clinton administration. Cisneros argued on CNBC that continued federal capital injections are necessary to maintain momentum in the job and housing markets. Economic programs like the first-time homebuyer tax credit and employment stimulus programs, “all… need to be kept in place,” Cisneros said. “We can’t afford the risk of a double-dip recession.”