ReEconomist

Homebuilders Try To Ride Tax Credit Wave [Housing Tracker]

If you have to give a tax credit to incentivize someone to buy a house, what the market is telling us is prices are still too high.

As Gato pointed out, the tax credit is really an interest free loan. There's a handy, free online directory of the new housing law where you can read or print out a few pages found at
ushousingmeltdown.org/...

The tax credit for first time home buyers is found on pages 628-637.