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But, but....the government knows best. The government does everything better than the free market. Obama is blessed with wisdom; he didn't need any knowledge of the housing market.....
<sarc.>
Double dip in housing anyone? Obama = WTF
Where is that puking icon when you need it?
Who said you had to take the tax credit? Nobody forced anyone to participate.
Who said you had to take the tax credit? Nobody forced anyone to participate.
It wasn't really a tax credit. For the early participants it was a temporary loan. To later participants it was a check at closing. many participants would not have been able to afford the downpayment, even at FHA rates, to get into a house any other way. So again, promoting ownership to some of those who can least afford it in the long term.
You cannot admit that the government forced a market where there would not have been one without their interference and taxpayer funded incentives? Really?
soooo is it Obama's fault someone bought a 200k house for 250k only because they wanted an $8,000 tax credit? I can't remember how many bidding wars people got into over houses for a tax credit. I guess it's Obama's fault these dummies didn't understand basic math Or maybe they've been watching too many episodes of "Flip This House" and thought they were going to get the tax credit...and make a profit on the house...in a lagging economy...only a year later...
It wasn't really a tax credit. For the early participants it was a temporary loan. To later participants it was a check at closing. many participants would not have been able to afford the downpayment, even at FHA rates, to get into a house any other way. So again, promoting ownership to some of those who can least afford it in the long term.
You cannot admit that the government forced a market where there would not have been one without their interference and taxpayer funded incentives? Really?
Very good analogy because like you said, i knew many participants who just could not afford a downpayment no how, and were pissed when they did not qualify for this program. You would have to at least been able to afford it in the long run. You always make so much sense.
Hmmm, worked for me and guess what my home value did not go down. Maybe those buyers should have been a bit smarter when finding out what their home was really worth before buying. I do not see how one has anyhing to do with the other.
Casper
It worked for me too. It took six months from filing for the credit to actually recieve it.
It wasn't really a tax credit. For the early participants it was a temporary loan. To later participants it was a check at closing. many participants would not have been able to afford the downpayment, even at FHA rates, to get into a house any other way. So again, promoting ownership to some of those who can least afford it in the long term.
You cannot admit that the government forced a market where there would not have been one without their interference and taxpayer funded incentives? Really?
How can they force the market? I didn't realize someone put a gun to the heads of all those banks forcing them to loan to those who were unqualified.
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Or maybe they've been watching too many episodes of "Flip This House" and thought they were going to get the tax credit...and make a profit on the house...in a lagging economy...only a year later...
