Why has Congress not extended a tax credit for second home buyers or investment property?
President Obama just signed the bill to extend the credit for first-time buyers and for buyers who buy a new primary residence with some restrictions.
Because of the state of the economy and the real estate market there are many vacant homes at incredibly low prices. If investors get back in the market and buy up some of this inventory it would have a dramatic effect. Why not give them some incentive? The market would start to come back, basic supply and demand, (guns and butter). Also people losing their homes would have more to rent.
Let's quit giving stimulus money to the banks that just buy other banks and get the economy back on its feet. Until the real estate market makes a dramatic shift up we are all in for a long haul.

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