New Orleans Real Estate - Economic Stimulus Package

By
Real Estate Agent with RE/MAX N.O. Properties

How Bush’s new economic stimulus package effects New Orleans Real Estate

Yesterday, President Bush signed a $168 billion economic stimulus package into law. That is a ton of money but will it have any real effects on our economy? Let’s first start with the details:

  • Tax rebates of $600 to individuals who make $75,000 or less, and $1,200 to couples who make $150,000 or less. After those income limits, recipients get 5 percent of however much their income exceeds the limit.
  • Tax rebates of $300 for individuals and $600 for couples who make at least $3,000 from income and Social Security benefits.
  • Each child in a household gets an extra $300 in the rebate.
  • The limits on the size of mortgage loans that can be insured by Fannie Mae and Freddie Mac will be increased from $417,000 to up to $729,750 depending on the median price of the area.

Continued: New Orleans Real Estate - Economic Stimulus Pacakage

 

Read Also: Myth: Mortage Interest Rates will Plummet in 2008

Read Also: Are We Heading into a Recession?

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Location:
Louisiana Orleans Parish New Orleans
Tags:
market update
new orleans
real estate

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Rainer
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Amy Jones
(licensed in LA)
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Darryl,

I am not really an advocate of the "Tax Rebates". It seems like a huge burden on future generations. I hope you are correct in you optimistic view of it helpin our great city. I appreciate that you have explained it so well.   :)

February 15, 2008 05:53 PM
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Rainer
74,458

Darryl Glade

New Orleans Real Estate
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