Will the government revive tax credits to encourage home sales? Housing experts are dubious.
Even suggesting that the tax credit might be revived could have a negative effect on the market, says housing economist Tom Lawler, because it could “lead many a prospective home buyer to hold off on buying a home.”
Earlier this month Richard Dugas, CEO of PulteGroup Inc., said earlier in August on an earnings call: “Almost regardless of how future demand plays out, we still believe that the tax credit had to end. We need to know the true level of demand without government stimulus distorting the market so that we can continue to properly position our business for ongoing improvement.”
Source: The Wall Street Journal, Nick Timiraos (08/30/2010)
Realty Direct Boston - Boston, MA
Guy:
HUD Secretary Shaun Donovan, appearing on CNN's State of the Union this weekend, didn't rule out another tax credit. He did say it's "too early to say," but then added that "we're going to be focused like a laser on where the housing market is moving going forward, and we are going to go everywhere we can to make sure this market stabilizes and recovers." Boy does that sound great.
Stephen
Aug 31, 2010 08:20 AM
Lakeville, MN
More opinions than you want to hear about.
Great idea! Do the same thing for a third time and expect different results. Gotta love bureaucrats playing with taxpayers' money.
Aug 31, 2010 08:31 AM
Keller Williams Realty Boise - Nampa, ID
I have to agree that the tax credit had to end...I benefited greatly from it and wish it could have continued...however how do we pay for it in the long run?? We have great challenges a head of us but I don't think they are unsurmountable!
Aug 31, 2010 08:43 AM
ReMax Select Realty - Pittsburgh, PA
Leasing, Property Management and Sales
Access Capital - Florence, KY
Capitalism and government intervention are not sustainable, I agree with the blog!
Sep 02, 2010 10:41 PM
Rainer
48,450
48,450
Guy Adams
I'm Your Guy!
Comments(5)