I am talking about the "mortgage relief credit" described in this White House announcement: https://www.whitehouse.gov/briefing-room/statements-releases/2024/03/07/fact-sheet-president-biden-announces-plan-to-lower-housing-costs-for-working-families/ For this market I only care about the first part, the $10K homebuyer credit, not the home-seller credit or anything else mentioned later on in that post.

Will this tax credit be approved by congress in time for 2025's tax filing deadline? I guess on the off chance that congress approves some smaller amount of money (like, say, $4K instead of $10K) credit, I'll try to figure out how to resolve the market to a probability (like 40% in the case of $4K).

Finally, I would like to note that I am a huge YIMBY and georgist, and I'm fully aware that passing this law to simply stimulate more demand instead of creating more supply, will not actually bring down housing prices much in equilibrium, if at all. But I am still personally curious about the fate of this proposal, since I'm looking to buy a house soonish and maybe I could be on the recieving end of the benefits of this particular instance of cost-disease socialism.