First-time homebuyers could benefit from the down economy. Recent federal legislation proposes a 75-hundred tax credit for new homes purchased before 2009. And, experts say a spike in home sales could be just the economic stimulus needed to jump start Georgia's economy.
Roger Tutterow is a professor of economics at Mercer University. Addressing a group of real estate professionals in Atlanta today, Tutterow called the health of metro-Atlanta’s real estate market an economic indicator for the rest of the state.
“The housing is particularly important to the state of Georgia because we have a lot of industries in the building supply, wood products sector, that are all related to the housing industry. As goes housing goes the health of these industries, as well.”In the meantime, Georgia remains among the top 10 states with the highest foreclosure rates. Realty-Trac … the website which tracks foreclosure rates nationwide … reports that year to date foreclosure filings in Georgia are up to nearly 53-thousand.
