HERE'S A COUPLE OF STORIES....

Gov. proposes extension, expansion of home buyer tax credits
During his State of the State address, Governor Schwarzenegger today announced his 2010 proposals for California.  Included in the proposals is a recommendation to set aside $200 million for a new round of $10,000 state tax credits for first-time home buyers.  The proposal expands upon the initial $10,000 state tax credit by including both new and existing homes.  Last year’s tax credit applied only to new homes.
The tax credit could be combined with the recently extended and expanded federal tax credit for home buyers.
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Construction spending declines 13.2 percent in November
Construction spending declined 13.2 percent in November 2009 compared with November 2008, and 0.6 percent compared with October 2009, according to a report from the U.S. Dept. of Commerce.  Residential construction declined 1.6 percent to a seasonally adjusted annual rate of $250.7 billion in November, compared with $254.9 billion in October.
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