Texans received over $680 million in federal funds under the Housing, Recovery and Assistance Acts. Texas ranked second nationwide in the number of first-time buyers who qualified for one of the three IRS tax credits, according to a report by the Government Accountability Office.
Top-ranked California had almost 117,000 claims and over $814 million returned to residents. Florida ranked third behind Texas, with nearly 65,000 claims and over $455million received in federal money. Nationwide, Americans collected about $23.5 billion and submitted 3.32 million claims, which is about $1.5 billion higher than original estimates.
How has the local economy been impacted by nearly 100,000 Texas residents purchasing homes for the first time?