Steve Albin

AND NOW, A WORD FROM THE ECONOMY HERSELF

http://www.youtube.com/watch?v=JfYdh-l01zI

The national median home price are now a very affordable $174,100 median home price. Here in Knoxville Tennessee median price is in the $140's. with low interest rates buyers should be able to get the home of there dreams.

*All areas are metropolitan statistical areas (MSA) as defined by the US Office of Management and Budget as of 2004. They include the named central city and surrounding areas. N/A Not Available p Preliminary r Revised ^† Most current data available © 2008 National Association of REALTORS®

While plenty of Tennessee newcomers dream of standing ovations at the Grand Ole Opry, not everyone can be Toby Keith or Faith Hill. But those who are still waiting to make it big can count on keeping more of their paychecks from the day job: Tennessee has no personal income tax on wages and salaries More>>> http://money.cnn.com/galleries/2009/smallbusiness/0910/gallery.best_places_tax_havens.smb/4.html

(Reuters) - The U.S. Internal Revenue Service is probing more than 100,000 doubtful claims of a tax credit meant for first-time home buyers, the Wall Street Journal reported on its website on Tuesday.

The $8,000 tax credit for first-time home buyers under the American Recovery and Reinvestment Act was passed in February to help prod the U.S. economy back to life.

Lawmakers have expressed concern http://www.reuters.com/article/domesticNews/idUSTRE59J10320091020

By David Lawder

WASHINGTON (Reuters) - The Obama administration on Monday launched a program to help the depressed U.S. housing market by effectively allowing state and local housing finance agencies to borrow from the U.S. Treasury.

The initiative, announced as new data showed a downturn in homebuilder sentiment, aims to restart a source of mortgage financing for first-time and low-income buyers that has been largely shut down by credit market gridlock.

Described as temporary by the U.S. Treasury, the Department of Housing and Urban Development and the Federal Housing Finance Agency, the program will allow state and local agencies to issue bonds through government-sponsored mortgage finance giants Fannie Mae and Freddie Mac. Those bonds would then be purchased by the Treasury.

http://www.reuters.com/article/domesticNews/idUSTRE59I47Y20091019