Foreclosure relief for home owners may be getting all the press on the new housing bill signed into law by the President this Wednesday. But there's plenty of tax-related goodies sprinkled through the bill's nearly 700 pages for sharp-eyed real estate investors.
Start with the low-income housing tax credit program -- the federal government's biggest source of support for affordable rental complexes -- driven mainly by tax shelter offerings.
The bill basically increases the size of the program, at least temporarily, by raising the current state-by-state volume limitations on tax credits. Put another way, the bill expands the number of potential deals supported by credits that developers and investors can do through the year 2009.
What do you think? Will the housing bill help to the housing market?
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