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Looks like the Home Buyer Credit Was Extended

 
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TB151
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PostPosted: Thu Nov 05, 2009 12:31 am GMT    Post subject: Looks like the Home Buyer Credit Was Extended Reply with quote

http://money.cnn.com/2009/11/04/news/economy/Extending_unemployment_benefits/index.htm?postversion=2009110418
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CC
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PostPosted: Thu Nov 05, 2009 3:51 am GMT    Post subject: Reply with quote

Cab believe this!
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CC
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PostPosted: Thu Nov 05, 2009 3:53 am GMT    Post subject: Reply with quote

98-0 vote? Can't believe this!!!
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admin
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Joined: 14 Jul 2005
Posts: 1823
Location: Greater Boston

PostPosted: Thu Nov 05, 2009 4:15 am GMT    Post subject: Reply with quote

CC wrote:
98-0 vote? Can't believe this!!!


How depressing. I'd like to think that the vote for the tax credit wouldn't have been so obscene had it not been conjoined to a bill extending unemployment benefits.

- admin
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TB151
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PostPosted: Thu Nov 05, 2009 1:47 pm GMT    Post subject: Reply with quote

Admin,
I have been following this site for a very long time, and I can say that I have lost all hope in the government. I am 30, and my wife is 27. I am in sales and my base salary is $110,000 with total comp of about $180,000. My wife has a salary of $60,000. We STILL feel that housing is very much over priced, and even though the new bill will now give us $8,000, I dont support it. We rent currently in Newton, and hope that pricing over the winter drops because we had aimed at purchasing in May/June. We shall see how that goes now.

:-/
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admin
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Joined: 14 Jul 2005
Posts: 1823
Location: Greater Boston

PostPosted: Thu Nov 05, 2009 4:10 pm GMT    Post subject: Reply with quote

TB151 wrote:
Admin,
I have been following this site for a very long time, and I can say that I have lost all hope in the government. I am 30, and my wife is 27. I am in sales and my base salary is $110,000 with total comp of about $180,000. My wife has a salary of $60,000. We STILL feel that housing is very much over priced, and even though the new bill will now give us $8,000, I dont support it. We rent currently in Newton, and hope that pricing over the winter drops because we had aimed at purchasing in May/June. We shall see how that goes now.

:-/


That's tragic timing. The home buyer credit extension lasts through the end of April, so buying in May/June could put you in a market with sellers unrealistically emboldened by recent comps that have been distorted by the credit. Then again, maybe not. Maybe there will be an utter void of buyers after the credit expires and sellers will get the message real quick. There's also the possibility that the government will expand the credit yet again come April. John P. is absolutely right on this - the unpredictability of the government is making this type of decision much more uncertain that it would otherwise be. This is one of many ways that the credit is actually damaging the market.

- admin
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