U-S Senator Sherrod Brown of Ohio today used a Columbus address on North 21st street to tout extension of a homebuyers credit program. WOSU's Tom Borgerding reports.
Senator Brown stood in front of 279 North 21st with soon-to-be homeowners Mike Decker and Katie Arends. The couple is using a popular federal tax credit to buy a 1,500 square foot, two story house in a central city neighborhood. Brown says Decker and Arends are among 50,000 Ohioans who have taken advantage of the housing credit.
"Many, many of those 50,000would not have happened without the tax credit."
With 50,000 credits given, at $8,000 per credit, the cost of the federal program in Ohio is $400,000,000. But, Brown says a recent six month extension of the program is needed even in the face of record federal government deficits.
"Well, this puts money directly into the community. It will help pull us out of the recession. The government just can't pull back and balance the budget tomorrow." Says Senator Brown.
Mike Decker says calls the federal tax credit a "deal-maker" for his purchase of the new home in the North of Broad neighborhood. Last year, Decker says he and Katie Arends looked for a condo in another neighborhood near downtown.
"We were in the process of purchasing a condominium in the Short North here in Columbus. That was right when the housing market really started to feel a lot of pronblems. That escalated and pushed us out of our financing and really shut that whole opportunity down for us."
Decker says the tax credit is just going to add a little "kick" to his personal wealth.
Tom Borgerding WOSU News