President Joe Biden's plan includes tax credits that may provide enough incentive for CA families to become first time homeowners.
Biden’s plan includes a $10,000 tax incentive for first-time home buyers and another $10,000 in tax credits to encourage current owners to sell their homes, all in an effort to put home prices back in reach for both for the first time in years — but can it work in California?
“Families used to be able to buy a house for somewhere near what equaled one year’s income,” Rank said. But concrete solutions have to include California’s supply and demand problem, which Rank said Biden’s proposal will address if Congress gets on board.
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