To amend the Internal Revenue Code of 1986 to extend and expand the first-time homebuyers credit and to provide a loss deduction on the sale of a principal residence.

Amends the Internal Revenue Code relating to the first-time homebuyer tax credit to: (1) extend such credit to all purchasers of a principal residence; (2) limit the credit to one sale or exchange of a principal residence; and (3) extend such credit through November 30, 2010.

Allows individual taxpayers a tax deduction through 2010 for losses from the sale or exchange of a principal residence.