Are we now getting the first indications that the housing tax credit may have done no more than kick the proverbial can a bit farther down the road? With mortgage applications falling last week and home prices dropping in many areas of the country, it appears that the housing tax credit may have done little more than provide a temporary and meaningless stimulus while adding to the growing deficit.
And while we’ll not have an accurate picture of the market for several months, first indications don’t appear positive. A CNBC article by Diana Olick seems to confirm my opinion that the housing market is far from achieving stabilization and even farther from recovery.
The Housing Guru: The expert source for all your housing questions
Comments(63)