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$50 to be the new $20

By
Real Estate Agent with Keller Williams Realty

"What!!!!"

"Is our Congress nuts?"

Those were my thoughts when I saw the $15,000 non-refundable tax credit for all homebuyers had been reduced to $8,000 for first time homebuyers only.

Here I was looking for a dramtic increase in sales in the upcoming months with $15,000 to each home buyer. It was glee! Excitement! Finally some hope to get housing back on track.

Then, thud - in the second to last paragraph of an article in the News Tribune about the so-called, "Economic Stimulus Package" I saw it. The $15,000 stripped from the bill.

What does Congress think about the current real estate market? I don't think they think much about it. It appears they think more about spending our money for "programs" that fit within their political scope, than they do about getting our economy out of trouble.

I saw it said best in this quote by a colleague of mine, "When the president signs on this bill, $50 will be the new $20 in America."

 

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