One important note about this bill other than we are spending ourselves into oblivion is that the extension of unemployment benefits for 14 weeks (up to 20 in states with high unemployment). The Washington Post reports this morning that the government gets a lot of bang for its buck as nearly 100% of unemployment benefits go directly back into the economy in the form of purchases (food, gas, clothes, etc). How does this help real estate.? That money that is spent in stores helps those people keep their jobs, pay their rent or mortgages and eventually allows them to purchase a home or move up. I mention this as it seems to be overlooked in the discussions about the home purchase tax credit. It is not directly related but it helps the economy which then helps the real estate industry.
The Washington Post Article
http://www.washingtonpost.com/wp-dyn/content/article/2009/11/05/AR2009110505439.html
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