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Stimulating The Residential Housing Market

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Old 01-13-2009, 06:43 PM   #1
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Stimulating The Residential Housing Market

Have you guys seen this? This email was forwarded to me the other day:

CALPASC supports the building industry effort to stimulate the economy. Stimulating the residential housing market not only helps residential trade contractors, but also the entire construction sector and the economy as a whole. This is short notice, but in an effort to help spread the word far and wide, we are forwarding the following information that we received yesterday from the building industry and asking you to visit the web site This web site details the efforts of the building industry at the federal level. After your review please make a call to your Congressmen in Washington D.C. by Friday, January 9th.

The two key points of Fix Housing First’s proposal are:

1. The federal government would offer a tax credit of between $10,000 and $22,000 (depending on locale) to anyone closing on the purchase of a home, new or resale, by Dec. 31, 2009. The credit would not have to be repaid, which is a major upgrade from a tax credit passed last summer; and

2. The government would provide a federally-subsidized 30-year fixed rate mortgage of 2.99 for all home purchases, new and resale, closing by June 30, 2009. After that, the rate would be 3.99 for purchases closing by Dec. 31, 2009.

After you look at the information at please contact your members of Congress and let them know how important this issue is. If the phone lines are busy, keep trying, as we hope they will be overloaded with requests for this support. We are asking you to tell Congress the following:

Tell them you are calling about the economic stimulus plan, then make the following points:

1. Stimulating demand for housing must be a central part of any economic stimulus bill – foreclosure prevention alone is not enough.

2. Please support enhancing the existing homebuyer tax credit and creating a short-term rate subsidy.

Besides making phone calls, you are also encouraged to send fax, email and letters. All of this information you can find at Soon you will see CALPASC supporting the building industry efforts to promote a stimulus package at the State level as well. Watch for information about this coming soon, too.

Thanks for supporting the trades!

Brad Diede
Executive Vice President, CALPASC
California Professional Association of Specialty Contractors3636 American River Drive, 2nd Floor
Sacramento, CA 95864
Ph: 916-973-2925
Fx: 916-480-7404

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Old 01-13-2009, 06:54 PM   #2
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Re: Stimulating The Residential Housing Market

Home Builders Make Plea for Federal Aid -



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