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The First-Time Homebuyer Tax Incentives: Did They Work?

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  • Amelia M. Biehl

Abstract

Following the Great Recession, two important recovery acts provided incentives for a qualified first-time homebuyer to purchase a home: the Housing and Economic Recovery Act of 2008 (HERA2008) and the American Recovery and Reinvestment Act of 2009 (ARRA2009). Using the American Housing Survey and a difference-in-differences approach, I find that recent movers who qualified for HERA2008 were 8.2% more likely to choose homeownership, relative to movers who did not qualify for HERA2008. Recent movers who qualified for a tax credit under ARRA2009 were 9.3% more likely to purchase a home than movers who did not qualify for the credit.

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  • Amelia M. Biehl, 2018. "The First-Time Homebuyer Tax Incentives: Did They Work?," Journal of Housing Research, Taylor & Francis Journals, vol. 27(1), pages 1-15, January.
    • Handle: RePEc:taf:rjrhxx:v:27:y:2018:i:1:p:1-15
    DOI: 10.1080/10835547.2018.12092138
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