California is now offering buyers of new housing units a $10,000 tax credit. The tax break was pushed hard by homebuilders, who say the measure should boost housing starts.
In large portions of California, homebuilding has not slowed, it has stopped completely. Entire counties are issuing only 1 or 2 permits a month for new units. People in the development and construction industry are desperate.
So a lot is riding on a tax credit for buyers of new homes, which California lawmakers approved in February as part of the state budget package. With $100 million authorized, the program could subsidize the purchase of 10,000 new units and, builders hope, spur some new construction.
But is the tax credit really any match for the fear and uncertainty that rule over the housing market?
FULL STORY: Will Tax Credit Revive Homebuilding Market?
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Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
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Defunct Pittsburgh Power Plant to Become Residential Tower
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Trump Prompts Restructuring of Transportation Research Board in “Unprecedented Overreach”
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Amtrak Rolls Out New Orleans to Alabama “Mardi Gras” Train
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Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
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JM Goldson LLC
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