Housing Bubble

Eyes on Senate; Industry Group Pleads for Home Buyer Stimulus 

With the $800 billion-plus economic stimulus package trickling through the House and Senate, at least one industry group is pleading the case for a substantial home buyer stimulus credit to spark demand for and reduce supply of housing amid heightened economic recession. “What we are seeing is some of the worst housing news that we’ve seen since the Great Depression,” said National Association of Home Builders (NAHB) chief economist David Crowe at a media conference Wednesday. “We continue to see sales fall, starts fall, prices fall and general economic conditions fall.”