To combat unemployment, home-buyer credit renewed and jobless benefits extended

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Pamphlets sit on a table during the Senior Job Fair at the Arcadia Community Center on October 2, 2009 in Arcadia, California.

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The Senate has extended tax credits for first-time home buyers, due to expire November 30, as part of plan to combat high rates of unemployment. Current homeowners would also be eligible for a $6,500 credit when buying a new residence. The bill also extends jobless benefits, particularly in states where unemployment exceeds 8.5%. The House expects to vote on the measure today.

Guests:

Chris Thornberg, Principal, Beacon Economics

Richard Green, Director, USC Lusk Center for Real Estate


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