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Tax Credit Extension, Again?

By
Real Estate Agent with Kendall Haney Realty Group

Even though there are some Repulicans in Congress that are saying there won't be an extension of the Homebuyers Tax Credit after the April expiration, there are some people who are saying that it may very well be extended to the end of 2010.

The reason for this possibility: It's the Midterm Congressional Election season.  The Democrats are wanting to come off as being "fiscally and financially responsible" to what I call Elm Street (rather than Main Street and Wall Street as we hear about ad nauseum).  Elm Street is composed over normal people just like you and me.  We are entrepeneurs, people just trying to make it from one day to the next. 

So what do you think?  Should there be an extension of the Tax Credit until the end of the year (or at least until Election Day)?  Will it benefit the economy?  What will it take to bring the economy back to normalcy?

Posted by

 

Bridget Cella
Re/Max Connection - Sewell, NJ
e-Pro, Realtor

I don't think they should even be talking about it at this point.  Having the deadline gives us the edge we need to get people moving, literally and figuratively!

Jan 02, 2010 01:39 PM
Larry Bergstrom
Crescent Realty, Inc. Spanaway, WA. - Spanaway, WA
CNE, CRS, GRI

Dana; I think the stimulus- as it is - will cause future foreclosures. So an extension will only make things worse.

Jan 02, 2010 02:22 PM
Sun City Grand Homes Surprise AZ Real Estate Leolinda Bowers Designated Broker Leolinda Realty
Leolinda Realty - Surprise, AZ
Sun City Grand in Surprise Arizona

I don't understand where the windfall of money is coming from, do you?

Jan 02, 2010 04:48 PM
Tom Boos
Sine & Monaghan Realtors, Real Living - Grosse Pointe Farms, MI
Providing the very best of service to Sellers and

I don't think there's a "snow balls chance" of a further extension.  The credit has been a good thing for our industry and the buying public, but all good things MUST come to an end.  Come May 1st, we have to let the market recover without further Government meddling.

Jan 03, 2010 02:30 AM
John Walters
Frank Rubi Real Estate - Slidell, LA
Licensed in Louisiana

The only thing elected officials are concerned with is getting re-elected.  I think term likits for all should be the normal.

Jan 03, 2010 05:22 AM