PRESS RELEASE         September, 2009

Extending Home Buyer Tax Credit Will Create Jobs in Maine, Move Economy Forward

Augusta, Maine – September 1, 2009 – Gary R. Jordan Jr., president of the Home Builders & Remodelers Association of Maine today issued the following statement on the need to extend and enhance the $8,000 first-time home buyer tax credit:

“Despite the notoriety being given to the Cash for Clunkers program, the most effective way to stimulate the economy and create jobs is for Congress to extend and enhance the $8,000 first-time home buyer tax credit, which is due to expire on Dec. 1. Extending the program for an additional year and making it available to all home buyers would create additional jobs in our State, and as the inventory of unsold homes continues to decline, it can give a boost to new housing production by encouraging the banks to restore the flow of credit that builders need to start new development.

“As people buy more homes, this creates a positive ripple effect across our communities. In the first year alone, new-home buyers typically purchase appliances, televisions, furnishings, carpets and other upgrades for their house. All of this translates into increased economic activity up and down Main Street.

 “Housing accounts for more than 15 percent of the nation’s gross domestic product and can serve as the catalyst to put America back to work. One of the best things that Congress can do to restore a full-fledged recovery is to work to restore the health of the housing industry. We are calling on lawmakers to do their part by taking action on the home buyer tax credit, helping to resolve appraisal problems that have been slowing home sales and urging regulators to restore the flow of credit so that builders can get back on the job.” To learn more and to tell Congress to extend and enhance the tax credit, you can go to www.hbrame.org

Contact: Gary R. Jordan Jr.
Telephone: 207-884-6505
Email: gjordanjr@hbrame.org
Website: www.hbrame.org

Mail can be directed to the Home Builders and Remodelers Association of Maine, 8 Mulliken Court, Suite 3, Augusta, ME 04330-7240.