Maybe now you’ll think about buying a home
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By Neal Boling
News Director | News Channel 11
Published: June 19, 2009
This is an interesting story from our pals at CNN:
Posted by Carla Fried
June 16, 2009 2:59 pm
“Last week Senator Johnny Isakson introduced legislation that would extend a $15,000 tax credit to any and all home buyers. And I do mean any and all. The current maximum tax credit for home buyers is limited to $8,000 for first-timers with adjusted gross income below $75,000 ($150,000 for joint filers). The Republican senator from Georgia — who made his fortune as a real estate broker, I should point out — wants to swing Treasury’s doors wide open. His bill nearly doubles the maximum credit, doesn’t have an income cutoff and isn’t limited to making home-buying more affordable for first-timers.“
“ If this legislation passed it would be at an estimated cost of more than $35 billion for taxpayers. “
What do you think? Would this spur you non-first-time homebuyers into action?
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Reader Reactions
Posted by ( Raoul ) on June 21, 2009 at 10:55 pm
This is a pretty stupid and unfair idea. All this accomplishes is to breathe a little life into the dead horse that was the speculative housing bubble. What about the folks who are unemployed and at risk of losing their homes?
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Posted by ( MurphyJo ) on June 21, 2009 at 9:08 pm
Sounds like a bad idea to me.
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Posted by ( EaTn ) on June 19, 2009 at 2:33 pm
I think it, along with lower prices, would spur speculators to pickup houses early on then drop them back on the market after the increased demand had pushed up prices.
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