The Weekend Poll: After the tax credit
The federal government's home buyer tax credit expires at midnight. Will your plans change after it's gone?
By
Elizabeth Razzi
|
April 30, 2010; 11:00 AM ET
Categories:
Buying
,
Poll
,
The market
,
Weekend Poll
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Posted by: burkemic99 | April 30, 2010 3:28 PM | Report abuse
The government is going to offer loan forgiveness for those that bought with the tax credit. The cost of the bailouts and this extra spending will be passed on to the other tax payers who don't qualify or are foolish enough not to borrow beyond their means.
Posted by: free_np | April 30, 2010 10:06 PM | Report abuse
I'm starting to wonder if home prices will drop off again in Q4. A lot of seller's would probably be happy to knock $8,000 of the sales price just to be rid of the burden of having a home on the market.
Freddie Mac expects "home price slippage" in the second half of 2010 for four reasons: 1) uptick of distressed properties; 2) end of the $8,000 tax incentive; 3)expected increase in mortgage rates and 4) high unemployment.
DC wasn't hit nearly as hard as some other parts of the country. Home prices here are still pretty high. Because of this, though, DC is more at risk of home prices dropping.
That's why I voted the $8,000 wasn't enough to influence my behavior.
Posted by: NikkiSixx | May 6, 2010 1:13 PM | Report abuse
The comments to this entry are closed.
Your choices seem a bit skewed. "Yes. I will have to spend less when I buy" implies that you would spend more now because of the money. The money likely infuences our behavior into looking to buy now as opposed to later, but that doesn't mean that we would spend more, or that we wouldn't be just as likely to buy a home later.
Another question you might ask is if you expect prices to decline by 8K or more because the program is over.