Good News for the Upper end Homes)(Up to $800,000 and how this new tax credit was designed to assist Upper-end homes

The Christian Science Monitor suggests that the $6,500 credit may help to move houses in the higher price ranges, because the tax credit now applies to residences priced up to $800,000. The majority of homes sold during the initial tax credit program were priced at under $300,000. Only 20% were priced between $300,000 and $400,000

Since its inception in 2008, close to a million and half people have filed for the home buyer tax credit. However, despite whatever economic stimulation it may have caused, and regardless of what its costs in lost tax revenues may have been, legislators have signaled that this is likely to be the last time the tax credit will be extended.