The first time home buyers tax credit ends in eight days. I can't help but wonder if the housing market can grow legs or will it need another government crutch. The banks seem to be moving foreclosures to the fore front instead of stalling on them. Will contracts dry up after the end of the month? Will home prices drop further without the demand being pulled forward? I for one don't really know. I guess we will have to stay tuned?
John, I have to wonder about all the shadow inventory that is out there just sitting and how that will affect the market when it is presented as well?! We'll see...
I think the only way that it will truly get fixed is just let it fix itself. All these tax credits have done is increased our countries debt and delayed the return of a normal steady market. Even with the tax credits have we seen the stabilization of housing prices they predicted? NO, so why not just let the market correct itself, it will happen, those who can will buy and those who want to or need to sell will.
