[Endwell, NY, August 29, 2009] The Southern Tier Home Builders & Remodelers Association today issued the following statement on the need to extend and enhance the $8,000 first-time home buyer tax credit: “Despite the notoriety being given to the Cash for Clunkers program, the most effective way to stimulate the economy and create jobs is for Congress to extend and enhance the $8,000 first-time home buyer tax credit, which is due to expire on Dec. 1. Extending the program for an additional year and making it available to all home buyers would create additional jobs in New York and in the Southern Tier. “As people buy more homes, this creates a positive ripple effect across our community. In the first year alone, new-home buyers typically purchase more than $12,000 on appliances, televisions, furnishings, carpets and other upgrades for their house. All of this translates into increased economic activity up and down Main Street. “On a national level, extending and enhancing the home buyer tax credit would spur an additional 383,000 home sales, generate the production of more than 80,000 homes and perhaps most importantly, create nearly 350,000 jobs in the coming year. That’s just the right prescription to get the American economy back on track. “Housing accounts for more than 15 percent of the nation’s gross domestic product and can serve as the catalyst to put America back to work. One of the best things that Congress can do to restore a full-fledged recovery is to work to restore the health of the housing industry. We are calling on lawmakers to do their part by taking action on the home buyer tax credit, helping to resolve appraisal problems that have been slowing home sales and urging regulators to restore the flow of credit so that builders can get back on the job.�