Tagged : Home Buyers Tax Credit

Ulster County Real Estate: Tax Credit Thoughts

Tuesday, November 17th, 2009 at 4:15pm. 414 Views, 1 Comments.

Now that the Federal Government has extended the first time home buyers program, and expanded it to allow access by a greater number of individuals, will we return to traditional lending standards when the program is completed? If we do not, are we then creating a new housing bubble? Are we creating the start of a new bubble with the use of this program?

I don’t believe that anyone familiar with the industry would deny that Banks were only too eager to loan whatever amount borrowers wanted, then for the most part, package and sell the loans. The result is that nationally, we now have approximately two trillion dollars in loans that will probably as of now, never be repaid, at least not in full. So if we are not building a new housing bubble by the use of…