Existing homeowners also are benefitting from the tax credit. In the '90s, many homeowners were forced to sell below market. Some who had to move quickly could not get back their equity. Today, however, D.C. is a sellers' market. Homes and condos often sell above the asking price, as buyers compete for the same property.
Tax cuts can be either windfalls or they can be targeted to get specific results.
Experts report that people choose where to live based largely on quality of life preferences, not taxes. Homebuying here, of course, is fueled by several other factors commuter traffic, the economy, etc. D.C., however, is not only outpacing the region. Now that our in-state tuition bill has passed the House, my goal is fast Senate passage and tuition assistance beginning next school year. I've already found a way for the UDC provision of the bill to be funded annually beginning this school year.