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Who Will Lead Out of the Recession?
We are closing in on almost 4 months since the benefits of the Stimulus Package for home buyers was announced.  Unfortunately, the incentives have not yet spurned an appreciable amount of buying activity, though some markets have reported some modest upswings in the past 3 months.
So, why haven't the results been more dramatic.  To begin with, the stimulus package didn't reach deep enough into the population to benefit all buyers at all levels of the economic scale.  Anyone that is not a classified "first time buyer" does not get the $8,000. Federal tax credit that is promised the first time buyer.  They are also the ones who can afford in many cases to wait and try to time the market, hoping for a better deal.  They are not likely to be that smart, and will not benefit by waiting near as much as they would by buying now, and do their share to restimulate the economy.
The first time buyer, on the other hand, is the one most likely to be timid about making their investment in a new home during a period of uncertainty, and when jobs are being lost everyday.  They are influenced by watching their family members ... more

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