I cannot think of anything better for the market or the taxpayers. Pricing will take a few months to react. Also as mentioned in a similar thread a few days ago this will increase the inequity of home ownership. Those with money, speculators, cash buyers, large syndicates that have been able to take advantage of massive govt incentives to buy in bulk will increase their holdings. I am not saying this is a good thing socially. However those that think prices will move drastically or in an immediate manner may be disappointed. Yet over a longer period of time those who are patient and have strong downpayments will be rewarded.