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What will be the effect on first-time homebuyer market share by the end of 2025?
3
Resolution / Starting Odds
Increase • 25%
No change • 25%
Decrease • 25%
Too early to tell • 25%
Real estate market analysis reports
Story
Biden's $400 Monthly Homebuyer Credit Sparks Debate Over Housing Market Impact
May 11, 2024, 05:00 PM
Amidst a national housing crisis, President Joe Biden has proposed a new housing plan aimed at improving affordability and increasing homeownership. The plan includes providing a $400 monthly tax credit for first-time homebuyers for two years, amounting to a total of $9,600. This initiative has sparked a debate, with critics arguing that it could inadvertently raise housing prices by increasing demand without addressing the underlying supply issues. They contend that the plan, while potentially boosting short-term affordability, might lead to higher prices and greater market instability, echoing concerns of a repeat of the 2008 financial crisis. Moreover, the plan has been criticized for not addressing regulatory barriers that restrict housing construction, which many believe would be a more effective way to tackle the housing affordability issue.
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Similar markets
Decrease by more than 1% • 33%
No significant change • 33%
Increase by more than 1% • 33%
Increase in first-time homebuyers • 33%
No significant change in first-time homebuyers • 33%
Decrease in first-time homebuyers • 33%
Significant increase in participation • 33%
Moderate increase in participation • 33%
No significant change • 33%
Top agencies gain market share • 25%
Top agencies lose market share • 25%
No significant change • 25%
Smaller agencies gain market share • 25%
Preference for direct seller transactions • 33%
Preference remains for buyer's agent involvement • 33%
Increase in use of online real estate platforms • 34%
Increase for smaller firms • 25%
Decrease for smaller firms • 25%
Increase for larger firms • 25%
Decrease for larger firms • 25%
Increase in home sales • 33%
Decrease in home sales • 33%
No significant change • 33%
Significantly effective • 25%
Moderately effective • 25%
Slightly effective • 25%
Not effective • 25%
Mostly positive • 33%
Mixed • 33%
Mostly negative • 33%
Widespread decrease in commission rates • 33%
Increase in transparency of commission rates • 33%
No significant change • 34%
