Comments on: $15,000 Home Buyers Tax Credit Smoke And Mirrors

By: Idaho Real Estate Pam Pugmire

Idaho Real Estate Pam Pugmire — Tue, 17 Feb 2009 17:53:45 +0000

I hope they get this decided once and for all, and soon! It is making potential buyers hesitant to make an offer, because if passed, this bill will not be retroactive.
I think rewarding people for positive action (buying a home) is much better for the economy than bailing out irresponsible banks.
Just my 2 cents!

By: PeteinMaine

PeteinMaine — Fri, 13 Feb 2009 02:18:54 +0000

I disagree TonyinSTPete,
The root of our country’s problems are an erosion of the middle class by outsourcing our economy to foreign communist countries (ie.China, the country we’ll be borrowing back the money we’ve sent to them to pay for this “stimulus”). As blue collar jobs dried up and our economy changed from manufacturing to low paying service industry jobs, people had less cash to spend, but they kept spending, using consumer credit (which was purchased by foreign investors gambling we wouldn’t pay it back on time, which we didn’t) getting ourselves further in debt. Interestingly, during this same mess, in order to maintain the ruse that our country was growing so they could get re-elected, politicians used freddie and fannie to keep mortgage interest rates low, housing market boomed, box stores selling chinese junk boomed, and housing prices went soooo much higher than the houses were actually worth. Then the house of cards got blown away in a perfect storm. At the first sign of a slight raise in mortgage interest rates, all the smoke and mirrors couldn’t put the house back up again.

So to summarize, the loss of middle class blue collar jobs pushed to the third world so corporate boards could increase their profit margins by using slave labor and avoiding any environmental regulations under the guise of higher returns for their investors, is the root cause of the current economic situation. IMHO lol.

By: TonyinStPete

TonyinStPete — Thu, 12 Feb 2009 20:23:55 +0000

To make matters worse in all this, we taxpayers are being asked once again to “bail out” the big Wall Street banks with their greedy but clueless CEO’s. These banks–Wells, Citi, B of A, Chase, etc. are the same ones who are “sitting on” short sale offers to help often well-meaning and beaten down homeowners get out from under mortages. They are doing nothing to help the overall real estate market which is the root of our country’s problems.

By: Serf

Serf — Thu, 12 Feb 2009 17:54:48 +0000

I think this whole Tax Credit is back to where it was last year – Up to $7,500 Credit for First Time Home buyers (or those who haven’t owned a home in the last 3 years) and it must be PAID BACK. So it is nothing more than a loan, screw that!! That doesn’t help anybody.

By: AndyIngram

AndyIngram — Thu, 12 Feb 2009 07:22:44 +0000

That is a real shame but I’m going to take a breath and step back and wait for the final signed document.

I’ve had many buyers talking about $15k credit and it had the potential of getting people to move off the fence. Hopefully they will see that this is real stimulus and not just someone’s pet project.

By: Woodstock Homes

Woodstock Homes — Thu, 12 Feb 2009 02:43:56 +0000

This is pure garbage! They dangled the carrot for two weeks only to slash the amount in half and limit it to first time homebuyers. Our deflated industry needs that 15k for all buyers right now. Very dissappointed. I will be writing my Congressman about this.

By: Tom Royce

Tom Royce — Thu, 12 Feb 2009 02:31:55 +0000

Jill

Not just cut it in half, but it looks like they have also made it only for first time home buyers. So the chance for some actual stimulus is taken away.

By: Jill

Jill — Thu, 12 Feb 2009 02:02:09 +0000

It would have been nice if this had passed with the up to $15,000 tax break. Depressing to think that they cut it in half.

By: $15,000 Home Buyer Tax Credit Appears Dead. Removed from Compromised Version of Stimulus Bill — The Phoenix Real Estate Guy

Wed, 11 Feb 2009 20:55:56 +0000

[...] Opine: 15,000 Home Buyers Tax Credit Smoke and Mirrors Email This Post Print This [...]

By: Fifteen Thousand Dollars | Real Central VA

Fifteen Thousand Dollars | Real Central VA — Wed, 11 Feb 2009 20:13:06 +0000

[...] 11 February 2008: It’s dead. In the words of the Real Estate Bloggers: And now we have a double whammy. Potential homebuyers have been sitting on the sidelines waiting [...]