New Survey Finds that Majority of Americans Support $15,000 Homebuyer Tax Credit in Stimulus Package

WASHINGTON-(Business Wire)-February 9, 2009 - More than two-thirds of African-Americans and Hispanics believe a $15,000 tax credit for homebuyers should be included in the stimulus package, according to a survey conducted over the weekend of over 1,200 registered voters.

The survey found that all Americans believe that not only should the tax credit be included in the stimulus package, but that it will motivate potential homebuyers and lift the broader economy.

“The survey results are compelling evidence that support for the homebuyer tax credit is broad and that it will have an immediate and dramatic stimulative effect,” said Ken Gear, Executive Director of the Fix Housing First Coalition, for which the survey was conducted.

Among African-Americans, the survey found:

81% of African-Americans support the $15,000 homebuyer tax credit;
78% of African-Americans believe the provision will stimulate the economy;
74% of African-Americans think the tax credit will motivate people to buy a home; and
50% of African-Americans respondents would themselves be more likely to buy a home if the tax credit is adopted.

Among Hispanics, the survey found:

65% of Hispanics support the $15,000 homebuyer tax credit;
59% of Hispanics believe the provision will stimulate the economy;
63% of Hispanics think the tax credit will motivate people to buy a home; and
51% of Hispanics respondents would themselves be more likely to buy a home if the tax credit is adopted.

“Unless measures are taken to spur housing demand, home prices will continue to drop, further destabilizing the broader economy,” added Gear. “Qualified home buyers need an incentive to get back into the housing market, and this survey demonstrates that the $15,000 tax credit will work.”

Other key results included:

76% of Democrats support the $15,000 homebuyer tax credit;
59% of Republicans support the $15,000 homebuyer tax credit;
One of every three Americans would themselves be more likely to buy a home if the tax credit is adopted; and
61% of all respondents who currently rent would themselves be more likely to buy a home if the tax credit is adopted.

Full survey results can be found by visiting: http://www.voterrollcall.com/client/PollReport.aspx?g=62174d63-5436-4ee2-9984-b26edcd54b26&c=143.

The opinion survey was conducted by Voter Roll Call on Sunday, February 8, 2009. 1,204 registered voters were interviewed by telephone. The margin of sampling error is ± 2.9%.

The Fix Housing First Coalition is a diverse group of housing stakeholders – including home owner and community groups, home builders and manufacturers – dedicated to addressing the root cause of our economic troubles. The coalition is advocating for a short-term incentive for qualified home buyers that would stop the fall in home values, restore consumer confidence, create jobs and lift our entire economy. For more information, visit www.fixhousingfirst.com.

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