Should buyers of new homes get a $22,000 subsidy?
From a story today reporting record low confidence among national home builders:
Homebuilders are pushing Congress for a 10 percent tax credit of up to $22,000 for homebuyers that purchase a home over the next year. They are also asking for a temporary interest-rate reduction on 30-year mortgages.
On Tuesday, a panel of housing experts projected that builders’ woes will deepen this year, pushing the prospect of a recovery into 2010 at the earliest.
Hey, why not? At the pace of things, we'll all be snorting at the federal pig trough. Who will pay for it all? Warren Buffet, Bill Gates and Oprah Winfrey had better get bigger vaults in Switzerland.
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Housing market news is the focus of the (Un)Real Estate blog. It offers an inside look at the Florida housing market and real estate news, with a focus on Tampa Bay. Its goal? Simple: To help you keep a roof over your head without losing your shirt.
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