Tagged : Tax Credit 
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Ulster County Real Estate: Tax Credit Thoughts
Tuesday, November 17th, 2009 at 4:15pm. 373 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…
Home Buyers Tax Credit - Ulster County Real Estate
Friday, November 6th, 2009 at 10:32am. 493 Views, 1 Comments.
So the Congress has passed the “new and improved” Home Buyers Tax Credit. Good for the Real Estate industry, very good for the home buyer, maybe not so good for the taxpayer. You hear the arguments for and against the program which will spend upwards of $45 billion, but the reality is that the industry is hurting badly and this will provide some relief nationally. Additionally, the potential for increased spending by new home owners on their new purchases should help the trade’s people and ancillary housing suppliers such as furniture sales.
This program is not a perfect solution, but then again, “Is there a government program that is?” The Home Buyers Tax Credit is much more closely aligned to helping Main Street, than all the “bail out” money spent on…