$8000 Tax Creit to all Home Buyers for 2009

By
Real Estate Broker/Owner with Crossroads Real Estate LLC

One of the best solutions to help solve the economic dilemma may be to extend this $8000 first time home buyer credit to all home buyers for the year 2009. Or offer this credit on a limited basis.

Imagine if you would, taking only 5 billion out of the pockets of the banks, that have shown they are good at loosing money. Instead this money should go into the hands of tax payers. This 5 billion would give an $8000 credit to 6,250,000 home buyers. This should go to all home buyers in 2009, not only first time buyers. This is what we need to really turn the economy around. Housing sales would go up, the stock market would follow. Businesses seeing relief would be hiring instead of firing.

There are approximately 4.5 million homes for sale nation wide. 5 billion dollars would cover about 13% of the available homes on the market. It would take about 30 billion to cover every home sold in an average year. A good portion of the money is already allocated to first time home buyers. It would not take an additional 30 billion to initiate this program. Wouldn't a tax credit given directly to all home buyers in 2009 stimulate the economy?

Write your representatives with your ideas.

http://www.senate.gov/general/contact_information/senators_cfm.cfm

Https://writerep.house.gov/writerep/welcome.shtml

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Rainmaker
180,116
Heather Fitzgerald
REALTY WORLD-Harbert Company, Inc. - Greenwood, IN
REALTOR Greenwood Indiana Real Estate

I am marketing this credit to apartments via a postcard. 

Mar 03, 2009 03:37 AM #1
Rainer
70,555
real estate real estate
Providence, RI

Dennis, this would be a good idea however I have been a strong supporter that  homes are for home residents which means only people who would buy and live there should be eligible for the credit. I do not like the idea to use homes as an investment.

Mar 03, 2009 03:41 AM #2
Rainmaker
223,625
Dennis Herman
Crossroads Real Estate LLC - Oostburg, WI
Dennis Herman

Huiting

I would agree if these were normal surcumstances.  If you watch the news it does not take long to realize, investors are hanging onto their money.  They need incentives to spend.  Once investors begin to enter the market, others will follow. 

Another point I have heard concerning this propsal.  SOme want it phased out if properties are purchased at a certain amount such as $500,000.  Keep in mind, there buyers will be paying much more in property taxes than the $8000 credit.  Cities and towns need this incentive.

Mar 13, 2009 06:48 AM #3
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Rainmaker
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