Has The Market Really Changed?
While we have seen major strides the last 6 months in the real estate market, it is difficult to know how much of it would have happened without the encouragement of the first time buyer credit. Would the buyers have purchased without the credit?
Data shows that the credit helped sale around 300k more home sales this year over 2008. If the extension of the credit does get passed, it is believed that it will help another 200-300k homes sale. The first 300k homes cost our government around 15 Billion. This is obviously a lot better than the billions that went to cash for clunkers or to bail out banks and pay for bonuses. This credit actually puts people in homes and creates jobs… (builders, lenders, carpet cleaners, painters, etc…)
My question is… at what point do we stop giving our economy an inflated start and actually tough it out for a while until things actually correct themselves?
What will happen when the tax credits end?
These are questions that we all we see answered in the upcoming months.
Other Great Articles…
Home Buyer Tax Credit Extension? Credit For Repeat Purchasers?
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