White House considering new tax credit for first-time home buyers

HONOLULU (HawaiiNewsNow) - President Obama's administration may resurrect the tax credit for first-time home buyers.

The $8,000 incentive expired several months ago.

But the recent slump in sales has some concerned the housing market could tank again, and take the economy down with it.

The White House's top housing official says several new programs are in the works, but no decision has been reached.

Copyright 2010 Hawaii News Now. All rights reserved.