Pres. Obama Signs Housing Bill

The United States Senate added tax credits for home buyers which include an extension on the $8000 first-time home buyer tax credit. The current tax credit was set to expire the end of this month but now has been extended through June on contracts signed by April 30th 2010. Additionally, the new bill includes a $6500 tax credit for existing homeowners who buy a new home after living in their current home for at least 5 years. Such stimuli for the US housing market shall surely add to the emergence of the next healthy market trend from the tips of Montauk & Orient Point to the shoreline of the West coast!