Bailout May Hurt New Vacation Home Buyers

The federal housing bailout bill, just passed by the House to relieve foreclosures and expected to be signed by President Bush, may not be great for "those who buy a vacation home, or one that they rent out, planning to make it their main residence at a later time," MarketWatch quotes Riverwoods, Ill. tax advisors group CCH. Why? The answer is complicated, for the CCH opinion, see
this article.