Share this on

ISPA joins Fix Housing First coalition

Group pushes for recovery plan

David Perry -- Furniture Today, January 20, 2009

ALEXANDRIA, Va. — The International Sleep Products Assn. has joined Fix Housing First, a coalition formed to push for a housing recovery plan designed to revive the economy.

"The decline in housing sales and overall home values led the global economy into our current recession," said Dick Doyle, CEO and president of the mattress industry trade group. "We need to do all we can to turn this around by stimulating home sales. Further, ISPA is proud to be leading a parallel effort to stimulate the purchasing of home furnishings as an important aspect of the economic recovery plan."

Fix Housing First, which consists of more than 600 organizations, home building companies and manufacturers, is pressing for a stimulus package to stem the decline in home values, stabilize financial markets and reignite consumer demand for homes and home furnishings. The coalition is urging Congress to support enhancements to the home buyer tax credit and provide below-market 30-year, fixed-rate mortgages for home purchases, Doyle said.

ISPA said a similar plan worked in 1975, when the nation was also in a recession. Congress then passed a short-term $2,000 tax credit for new homes ($12,000 adjusted for today's home prices) along with subsidized mortgage rates. The stimulus jump-started the depressed economy and the effects continued long after the measure expired, the association said.

The coalition is calling for enhancements to the current $7,500 tax credit for first-time home buyers.

In addition, ISPA is leading a second coalition that is promoting tax credits of up to $5,000 for consumers who purchase home furnishings when they buy a new home. The backers say that step will significantly increase sales of home furnishings.

Share this on

ISPA supports stimulus for purchases of homes, furnishings

Dec 16, 2008

Also by this author

Also by David Perry

Featured Company

Brandwise Inc.

Brandwise serves a model - not just an industry - by integrating, automating, and optimizing the entire sales channel, from wholesale Suppliers to their Reps and the Retailers they service. In short, our software helps Reps and Suppliers sell more and create... more