Even before the stimulus package has been signed, I've heard nothing but complaints from the real estate industry.
Ok, so 8 isn't as good as 15. Limiting to first time buyer's kind of stinks too. Cheer up though!
In my market, the first time home buyer has been the person sitting on the side lines since 2007. For Realtors to kick the dirt about the stimulus conveys a negative message to the general public. As a non-first time home buyer, negativity from the professional Realtors might give the message that without the additional break, buying now is not worthwhile. To the first time home buyer, they may take the negativity as another excuse to wait things out and hope for more money in another 6 months.
Personally, I'm in favor of the stimulus, but concerned that so much has been done to keep the housing market going. All the way back to the Fed keeping rates so low in 2004-2005, thus fueling the market and speculators into a bubble.
Like so many people are saying, I'd be interested in seeing what we as individuals and businesses in this country do to pull ourselves out of this recession rather than having the Federal Government borrow our way out.
Let's do our part and be positive about the added motivation for first time buyers and rally this spring!!!
Comments(1)