Journal Article

Texas housing on bumpy road after stimulus effects fade

Abstract: Texas? housing sector remains in the doldrums following demand spikes in 2009 and 2010 aided by the homebuyer tax-credit program. When the federal government first offered the incentive in mid-2008, Texas home sales and construction were in a rapid descent that began with the U.S. housing crisis and accelerated when the state joined the nation in recession. As part of broader housing measures, a series of three homebuyer tax credits sought to reduce bloated inventories and arrest free-falling home values?a condition felt more profoundly at the national level than in Texas.

Keywords: Tax credits; Housing - Prices;

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Bibliographic Information

Provider: Federal Reserve Bank of Dallas

Part of Series: Southwest Economy

Publication Date: 2011

Issue: Q2

Pages: 3-7

Order Number: 2