10/27/2009

Housing Tax Credit

Apparently, it isn’t dead yet. Update: more here.

Many believe that it’s a bad idea — but these days, that just makes it all the more likely our gov’t will do it.

From Calculated Risk:

This is obviously bad economics, but it must be good politics. The first-time home buyer impact will fade (and will probably cost over $100,000 per additional home sold). The move-up portion will probably be even less effective.

Apparently this tax credit will be combined with the extension of the unemployment benefits to avoid a veto (the real reason the extension was being held up).

Posted: 4:22 pm

5 Comments »

  1. Yeah and despite all the letters, protests and fuss, both the house and the senate have put back in “public” health insurance. How many times do we have to say it? Focus on Health Care. Get the cost down. Get off the insurance kick–insurance is not the problem. Health care is the problem and giving everyone insurance doesn’t bring down costs, doesn’t make health care any better and you guys have no way to pay for it anyway.

    Comment by Maria — 10/27/2009 @ 4:48 pm

  2. Seen on Instapundit:

    BARNEY FRANK TELLS THE TRUTH: “We Are Trying On Every Front To Increase The Role Of Government.” Just in case there was any doubt.

    There’s no doubt in MY mind. It’s quite obvious. But it’s nice of them to just be up front about it.

    Comment by BMB — 10/27/2009 @ 5:04 pm

  3. HAHA!

    Well, at least now I might be able to get paid to buy a foreclosed property next year. Woot woot! Free money free money free money! hehe

    You ever see that youtube video before Obama was elected where the woman tells the camera that she wants Obama to win so he can pay her mortgage? Muha!

    Comment by Andrew — 10/28/2009 @ 7:53 am

  4. Sure — that one was pretty ‘popular’. I wonder if she’s gotten her checks yet…

    Comment by BMB — 10/28/2009 @ 8:36 am

  5. She probably has. She probably qual’d for some government program or other that took over her payments for a year until she decided whether she wanted to keep paying or not. Seems to me the gov has been pretty generous when it comes to handing out money for cash and houses.

    Comment by Maria — 10/28/2009 @ 12:07 pm

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