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I feel the tax credit was a big help to not only the buyers, but the Real Estate market as well. I know they just extend the time for those who were under contact by the end of April, but I believe if they would continue to bring the Tax Credit to the "table", it would help keep the buyers interested in purchasing and continue to help sale houses..... what do you think?
It was a nice carrot but it isn't going to fix the problem with the current housing market. I think it just prolongs the end result.
Hi John,
Thanks for your comment. What do you feel is the end result?
Doug
There is no need for the tax credit. We have no money. Where is it going to come from? The printing press?
Donna,
I think that is where all of our money is coming from these days. How is the war, ect being paid for? Seems like we always have money to give to other countries, but when it come time to help us, we have to fight to get it.
The program helped some people with the "American" dream of owning a home. The more people start purchasing homes again, the more people who will be going back to work.
Maybe it helped more than we know......
Thanks for your comment
I think they need to have some kind of a push for the real estate market again. It really was working. I know what got the Country in such a horrible state, but there are a lot of good people, who have okay credit and good jobs who can't get financed. I wish they would ease up on the restrictions just a bit. This is just my opinion and many people do not feel this way. We need buyers!
Diane Casale
I could not agree more. Seems like they have gone to far the other way.... making it to hard to get a loan and to many hoops to get it.
I was in the mortgage business for 10 years and I remember the Gov. making us provide loan to people who should not have received a loan because of credit, not paying bills, late, etc.... Just because of their "background". I believe that help cause the problems we are having now.
I agree with you on the return, it is not a perfect fix but it will help.
Doug, I am sorry, I have to agree with Donna #3. Even though the credit help stimulate sales, the money that was utilized only created additional debt and sinks the economy more. There has to be a happy balance of stimulus and money management. I believe the credit should have been phased out, not completely dropped off, as it would have still kept people in the ballgame. We just have to dig deep and find other creative ways to make a sale. Realtors are resilient, we will help keep this economy stimulated, with the Chinese getting any richer off of us by creating additional US debt.
Hi Don,
Did the program help you?
I found I had about three additional deals because clients were taking advantage of the tax credit. I know it cost alot, but it seems to me that "we" the people of the USA at least got something in return for the money spent.
Do you have any ideas of another way. I would love to hear what we as Realtors can do to replace that program.
Thanks for you comment
It needed to end.. and it needs to STAY ended. Jobs are the key. The tax credit was having reduced effectiveness anyway. When jobs come back, housing will come back. When the government stops looking for creative ways to take and spend more money, jobs will start to come back.
I agree with most of the other posts here - -jobs and confidence in the economy are the 2 most important things. Confidence is still just so low, due in large part to the media that constantly blab about the negative and never some of the positives (long-term trnds, etc.) I also think that we have quite a few "fence-sitters" that may suddenly be ready to purchase when the Fed begins to tighten its' monetary policy again. I know if interest rates started to seriously creep into the 5's it would be a big motivator for some. Like all things, this too shall pass, and housing will recover, but there are still a lot of headwinds and it will just take time.
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