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Has anyone heard of any kind of extention on the $8,000 tax credit from its November 30th deadline? I keep hearing rumors but nothing official. I'm hoping it will be extended.
I'm delaying my home purchase until at least December. If Barack Osama doesn't continue to artificially prop up the market with free money to people who don't deserve it, the decline will send our economy into a death spiral. The NAR lobbyists are hammering on congressional doors non-stop for a $15,000 credit to ALL buyers. Sweet!!!
If they expanded the program the way they're talking about it, I would qualify for $15,000 free money. And I'm still not in favor of it.
Not sure which way it will go, but I have noticed the chatter isn't all positive anymore, which means the NAR and builders are no longer completely controlling the conversation.
It also removed the three year limit for military and some govt. employees.
As much as I dislike this program, I'd be in favor of extending it indefinitely for anyone in the military-- with a few changes to make sure the borrower is financially stable, responsible and not going to capsize his/her life under an oversized debt.
Is the indecision of congress having an immediate effect on sales? I am always in shopping mode but if I came across a property I wanted right now, I might wait to see if I could get $15k. Why not...
If they said it won't continue or there will be restrictions, then I would proceed as normal without it. As long as I have a chance, I will wait as there is no buyer urgency.
I'm delaying my home purchase until at least December. If Barack Osama doesn't continue to artificially prop up the market with free money to people who don't deserve it, the decline will send our economy into a death spiral. The NAR lobbyists are hammering on congressional doors non-stop for a $15,000 credit to ALL buyers. Sweet!!!
"death spiral"??
I think that's being overly dramatic. The economic recovery will no doubt slow down and real estate professionals will suffer. But no death spiral IMHO. Wonder who is paying for that $15,000 credit? Not so "sweet" to me.
Has anyone heard of any kind of extention on the $8,000 tax credit from its November 30th deadline? I keep hearing rumors but nothing official. I'm hoping it will be extended.
Btw...IMO the markets should recover by them self..all this artificial putting money in the markets isn't helping on the long term...more fraud keeps showing up and when the funding or credits are over the people stop buying...more businesses should fail if they are run bad, just as HO who should never have bought and signed lyer loans should pay the price them self!
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