Saw what I would consider the first two instances of the “major media” covering the upcoming expiration of the first-time homebuyer tax credit set for November 30, 2009, here (NY Times) and here (AP). Found the AP’s headline disturbing…White House may extend homebuyer tax credit; don’t we have a legislative branch in these United States? But I digress…
Some interesting views from the not self-interested crowd in the Times’ piece. In favor of an extension…essentially arguing that we’re not yet out of the woods on the economy and the housing market. Against the extension…it’s $$ our government doesn’t have and all it does is redistribute money from renters to home buyers.
Me? I’d say I lean towards opposing an extension. Not sure home buying by people who can’t always afford one is something to be encouraged (wasn’t this some part of the current recession), I’d bet 75% of people getting the credit would have bought a home anyway, and aren’t there better ways for the Feds to use $15 billion (like an across the board tax cut or health care).
The credit should go away (although the buzz has not hurt me these last couple months). Why are we using tax money for cars and home owner credits? How we fix some bridges, fix some schools and hire some cops?
ps… not crazy about the new design… too busy, hard to read. Sorry bro.
I have already seen it somethere…
Saurooon
Thanks for the feedback on the design…always a work in progress I guess. I thought the cash for clunkers had more logic than the homebuyer credit. With cars I’d think you got people who would NOT have bought a car to spend money they wouldn’t have spent otherwise. The homeowner credit…people are going to be spending money for a place to live regardless.
October 8th, 2009 at 6:04 am
[...] a quick follow-up on our recent post about the chances for the first time homebuyer tax credit extension. NYTimes reports that the [...]