Greenwald: Christie no friend of homebuilders

Assemblyman Louis D. Greenwald had the following published in The Daily Record:

“Home sales in New Jersey fell 23 percent in May and 27 percent in June. Those numbers are even scarier considering those are typically busy times for the real estate market.

“Home construction has plummeted.

“That’s why, as New Jersey struggles to emerge from the worst economy since the Great Depression, I introduced legislation to create a New Jersey Homebuyer Tax Credit program. It was a sensible way to revive our economy and put people back to work. It was widely praised and backed by both Democrats and Republicans. It passed the Senate 38-0 and the Assembly 67-8. Everyone agreed it was the shot in the arm New Jersey’s economy needed.

“Well, almost everyone.

“Only one person failed to understand the value of this program, and unfortunately that person was Gov. Chris Christie, who vetoed the bill last week.

“This veto showed an alarming lack of understanding of how the tax credit works, and I fear that lack of understanding will put New Jersey’s struggling economy in a tailspin…”