The home buyer tax credit appears to have made a difference in potential home buyers’ plans. A December 2009 survey finds that one in five homeowners said that they were more likely to consider buying a home than they were before the tax credit was extended and expanded.
The survey also finds that 83 percent of homeowners say that if they purchase a home and qualify for the home buyer tax credit, they plan to put the money toward paying off existing debts, home improvements, savings and investments, or everyday household expenses. Just 6 percent of respondents say they would spend the tax benefit on luxury items.
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