Real Estate Lobby Wants $15,000 tax credit for all buyers.

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Submitted by picpoule on June 18, 2009 - 7:31pm

Lobbyists are hard at work in Washington to stop home price declines:

http://www.cnbc.com/id/31431394

Their imaginations are endless.

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They'll probably get exactly
Submitted by paramount on June 18, 2009 - 8:31pm.

They'll probably get exactly what they want too

By the time it takes effect
Submitted by GoUSC on June 18, 2009 - 8:43pm.

By the time it takes effect the interest rates will be higher and any savings this offers will be wiped away.

Of course the scheeple will screen "$15K credit!!!!!???? NOW IS THE TIME TO BUY YEAHHHHH WHAT A GREAT DEAL!!!!"

People are stupid. And NAR preys on them.

Isakson sponsored the last
Submitted by Effective Demand on June 18, 2009 - 9:06pm.

Isakson sponsored the last tax credit bill and the NAR/NAHB/MBA lobbies are huge and giving out OPM. So it has a decent chance of passing.

GoUSC wrote:People are
Submitted by doofrat on June 19, 2009 - 10:03am.

GoUSC wrote:
People are stupid. And NAR preys on them.

That's great!

I agree 100%. It is becoming
Submitted by sobmaz on June 19, 2009 - 1:49pm.

I agree 100%.

It is becoming increasingly clear that the housing market in California, due to all the moratorium, tax credits and all the other B.S. they are doing to bail out the spendthrifts who bought houses they could not afford, will not correct until 30 year interest rates force the correction.

Until then, those who used their common sense, their brains and lived within their means will have to continue to be punished by the Government and watch the Gooberment continue trying to keep the spendthrifts, the idiots, those who do not save for their future, in the houses they never should have gotten in the first place.

You know it is time to invest in Gold when our Government rewards greatly stupidity and crushes commons sense. Of course, it has always been that way to a degree but never like this.

sobmaz wrote:I agree 100%. It
Submitted by FormerSanDiegan on June 19, 2009 - 2:00pm.

sobmaz wrote:
I agree 100%.

It is becoming increasingly clear that the housing market in California, due to all the moratorium, tax credits and all the other B.S. they are doing to bail out the spendthrifts who bought houses they could not afford, will not correct until 30 year interest rates force the correction.

Until then, those who used their common sense, their brains and lived within their means will have to continue to be punished by the Government and watch the Gooberment continue trying to keep the spendthrifts, the idiots, those who do not save for their future, in the houses they never should have gotten in the first place.

You know it is time to invest in Gold when our Government rewards greatly stupidity and crushes commons sense. Of course, it has always been that way to a degree but never like this.

I know that people want more affordability but the words "housing market in California ... will not correct until ..." seems to ignore the fact that we have had the largest correction in CA real estate in three generations by virtually any metric.