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What kind of an impact will the expiration of the first-time homebuyer tax credit have on prices?
February 17, 2010 11:16AM
February 17, 2010 at 12:36 pm, philip Farinacci said:
the credit MUST be extended, it is helping not just the housing market but the economy as a whole. people buy a new house and spend money moving in, setting it up, and in the local community, real estate taxes, closing costs etc etc etc, every new home built equals 100 new jobs, the trickle down never ends when a new house is bought, extend the credit now.
February 17, 2010 at 12:36 pm, Anonymous said:
The 1st time homebuyer tax credit is not the biggest issue. The rising interest rates coupled with the potential for the value of the dollar to rise against foreign currency is what will have the biggest impact.
February 17, 2010 at 12:38 pm, Anonymous said:
The real value of the tax credit is that once you move in you get that money back cash in your pocket so to speak. In essence it’s like lowering the amount of the downpayment which we all know what happened last time buyers were allowed to get away with less downpayment.
February 17, 2010 at 12:46 pm, Anonymous said:
We will realize in a few years that the tax credit was a huge waste of money and didn’t help consumers at all. It was used to prop up the market in a very generic way. Its good to get rid of it, besides NYC was barely affected by it.
February 17, 2010 at 12:50 pm, Anonymous said:
The tax credit is just a desperate means for keeping the bubble inflated. It has to stop some time. And no matter what, prices will nosedive once it ends. Prices are still way out of whack considering historical norms, and they still need to come down drastically.
February 17, 2010 at 12:50 pm, Anonymous said:
It must end and prices go lower – why am I paying for people to buy a house? You want people to have money in their pockets? Then shrink the government spending and lower my taxes.
February 17, 2010 at 1:17 pm, Anonymous said:
What is proping up the NYC housing market are foreign buyers with their highly valued currency buying up anything descent. This city will become one big foreign own entity that no REAL New Yorker with a descent job can afford. We will all be renting our homes from foreigners.
February 17, 2010 at 1:42 pm, Anonymous said:
the expiration of the first-time homebuyer tax credit DOESNT affect on much on the real estate. Currently it only helps the people with low down payment to enter the real estate market. All we need is a low interest rate for those who want to refinance and purchasing. Also, it is more efficient to bring jobs back to the economy. If people dont have jobs they wont buy real estates.
February 17, 2010 at 1:52 pm, Anonymous said:
The builder need to stop building more houses and it will drive down the supply.
February 17, 2010 at 4:50 pm, Shaya Boymelgreen said:
i just filed five tax returns and collected five first time homebuyer credits!