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california: California Blowing Through Their $10,000 Home Buying Tax Credit - 06/14/09 04:12 PM
According to CNNMoney.com, the State of California is blowing through the $100 million that they set aside to be used as $10,000 tax credits for new home sales.
Since its inception in March, over $80 million of the $100 million has been "spoken" for.  It was supposed to last through March of 2010.
The credit is only available for new homes but any primary residence buyer can qualify for it, not just first time home buyers.  Additionally, contrary to Obama's housing plan, there are no restrictions on the buyer's income - what a novel idea.
And while I can hear the chorus of critics saying that California … (8 comments)

california: California may need $7 billion loan from fed - 10/03/08 02:30 PM
CNN is reporting that the state of California may need a $7b loan from the fed in order to meet payroll and other financial obligations for the month of October.  And California is not the only state that is in this position.
These are signifcant problems that we are facing that are not going to be resolved with one $700b check from the Treasury.
The bailout plan that was passed today is a lifeline for the US economy, but Congress still needs to address the housing market which is the engine for our economy.  The housing market got us into this … (5 comments)

 

Mark MacKenzie

Phoenix, AZ

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Mark MacKenzie Real Estate Planning

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