$8,000 homebuyer credit to be raised to $15,000
- Thread starter peilthetraveler
- Start date
You mean M3 which is no longer published?
Or maybe one of these numbers:
http://www.federalreserve.gov/releases/h6/Current/
They eliminated the $15,000 buyer credit in Feb 2009, the cost of this would have added $35.5 Billion to the stimulus plan bill.
I guess they see that the $8000 tax credit isn't working so in order to stabilize the economy they need to put a DEFINITE floor on the housing market. All I keep hearing is that the only way the economy actually turns around is when the housing market turns, throwing $15,000 to anyone buying a house will probably create a buying frenzy that will most likely create higher prices in housing over the short term.
I guess they see that the $8000 tax credit isn't working so in order to stabilize the economy they need to put a DEFINITE floor on the housing market. All I keep hearing is that the only way the economy actually turns around is when the housing market turns, throwing $15,000 to anyone buying a house will probably create a buying frenzy that will most likely create higher prices in housing over the short term.
California are giving home buyers a huge break with that kind money, even in areas where houses are down 50% in value over the last 18 months.
Like I said this is not the way to treat any kind of market, if they would let the pieces of the puzzle fall where they may land it would create a real market place, putting an invisible floor under the housing market will only create more complex issues down the road.
You can always start a company and apply for TARP funds.
Failing that, give meager campaign donations and then do back room deals for no-bid contracts at 1000% inflated prices.
Failing that, give meager campaign donations and then do back room deals for no-bid contracts at 1000% inflated prices.
I like it. Not that it's even remotely just or "right," but it would help keep the balance a little until we can stop all of the wasteful nonsense altogether.
I'd settle for being able to get a piece of the PPIP (or whatever it's called; the thing where bank A buys bank B's toxic assets and vice-vera for 98% of par, then writes them down to 20% and the Fed pays 80% of the difference). Arbitrage in its finest textbook incarnation. I'd put my whole retirement into it...
how long is the California deal going to be offered?