$15,000 Tax Credit for Home Buyers?

[CA renter]

[quote=jpinpb]All I got to say is as long as the gov thinks it’s necessary to throw money at this, then we’re not close to bottom. If it’s true they are bumping it up to 15k tax credit, then they know what’s on the horizon is a mega storm.[/quote]

You nailed it, jp!!!

[CardiffBaseball]

[quote=creechrr]
Another company looking to leave Southern California. There seems to be a trend here.

May I ask, what industry is your company in?

Florida isn’t bad. It’s just a flatter, wetter California. Pretty good cultural diversity (assuming you’re not against that).[/quote]

My company was already mentioned by techyworker on the layoff thread, so you don’t have to add to the grand total… Sorry can’t add much more.

I have no problem with a little diversity, though I tend to not want to live in the the urban hipster type places (at least until I get my kids through school).

[CardiffBaseball]

[quote=creechrr]
Another company looking to leave Southern California. There seems to be a trend here.

May I ask, what industry is your company in?

Florida isn’t bad. It’s just a flatter, wetter California. Pretty good cultural diversity (assuming you’re not against that).[/quote]

My company was already mentioned by techyworker on the layoff thread, so you don’t have to add to the grand total… Sorry can’t add much more.

I have no problem with a little diversity, though I tend to not want to live in the the urban hipster type places (at least until I get my kids through school).

[CardiffBaseball]

[quote=creechrr]
Another company looking to leave Southern California. There seems to be a trend here.

May I ask, what industry is your company in?

Florida isn’t bad. It’s just a flatter, wetter California. Pretty good cultural diversity (assuming you’re not against that).[/quote]

My company was already mentioned by techyworker on the layoff thread, so you don’t have to add to the grand total… Sorry can’t add much more.

I have no problem with a little diversity, though I tend to not want to live in the the urban hipster type places (at least until I get my kids through school).

[CardiffBaseball]

[quote=creechrr]
Another company looking to leave Southern California. There seems to be a trend here.

May I ask, what industry is your company in?

Florida isn’t bad. It’s just a flatter, wetter California. Pretty good cultural diversity (assuming you’re not against that).[/quote]

My company was already mentioned by techyworker on the layoff thread, so you don’t have to add to the grand total… Sorry can’t add much more.

I have no problem with a little diversity, though I tend to not want to live in the the urban hipster type places (at least until I get my kids through school).

[CardiffBaseball]

[quote=creechrr]
Another company looking to leave Southern California. There seems to be a trend here.

May I ask, what industry is your company in?

Florida isn’t bad. It’s just a flatter, wetter California. Pretty good cultural diversity (assuming you’re not against that).[/quote]

My company was already mentioned by techyworker on the layoff thread, so you don’t have to add to the grand total… Sorry can’t add much more.

I have no problem with a little diversity, though I tend to not want to live in the the urban hipster type places (at least until I get my kids through school).

[smshorttimer]

Well this is just one story about cultural diversity from one person, but I have a family member — lifelong San Diegan — who moved to around Orlando and he experienced culture shock, particularly the number of times he’s heard the N-word uttered there.

[smshorttimer]

Well this is just one story about cultural diversity from one person, but I have a family member — lifelong San Diegan — who moved to around Orlando and he experienced culture shock, particularly the number of times he’s heard the N-word uttered there.

[smshorttimer]

Well this is just one story about cultural diversity from one person, but I have a family member — lifelong San Diegan — who moved to around Orlando and he experienced culture shock, particularly the number of times he’s heard the N-word uttered there.

[smshorttimer]

Well this is just one story about cultural diversity from one person, but I have a family member — lifelong San Diegan — who moved to around Orlando and he experienced culture shock, particularly the number of times he’s heard the N-word uttered there.

[smshorttimer]

Well this is just one story about cultural diversity from one person, but I have a family member — lifelong San Diegan — who moved to around Orlando and he experienced culture shock, particularly the number of times he’s heard the N-word uttered there.

[sdduuuude]

Just thinking out loud here.

Seems to me that they would eventually have to end such a program, and when they end the program, housing prices would just revert back to where they were.

So, lets say today the market value of a home (without the tax break) is $200K. The gov gives a $15K tax break, meaning people would be willing to spend more than $200K on that house – because they aren’t really paying $200K. Lets say market forces bring about a situation where buyer and seller split the 15K so the house is purchased for $207,500. The buyer spends $192,500.

Lets say a few years pass, and the house value doesn’t change. Expected purchase price is still $207K.

Then, the govt nukes the $15K tax benefit. Without the tax benefit, the expected sales price of the house would go back to 200K. The net effect on housing prices is 0.

If the government reduces spending in other places to make up for the $15,000 loss in revenue, I’d be all for it as it would effectively be a tax reduction. I doubt that will happen.

Really, the govt is keeping gov. spending the same, borrowing the money they didn’t get from the buyers, and paying interest on it all for the purpose of keeping housing prices up for as long as the program is in place.

A truly unsustainable program.

[sdduuuude]

Just thinking out loud here.

Seems to me that they would eventually have to end such a program, and when they end the program, housing prices would just revert back to where they were.

So, lets say today the market value of a home (without the tax break) is $200K. The gov gives a $15K tax break, meaning people would be willing to spend more than $200K on that house – because they aren’t really paying $200K. Lets say market forces bring about a situation where buyer and seller split the 15K so the house is purchased for $207,500. The buyer spends $192,500.

Lets say a few years pass, and the house value doesn’t change. Expected purchase price is still $207K.

Then, the govt nukes the $15K tax benefit. Without the tax benefit, the expected sales price of the house would go back to 200K. The net effect on housing prices is 0.

If the government reduces spending in other places to make up for the $15,000 loss in revenue, I’d be all for it as it would effectively be a tax reduction. I doubt that will happen.

Really, the govt is keeping gov. spending the same, borrowing the money they didn’t get from the buyers, and paying interest on it all for the purpose of keeping housing prices up for as long as the program is in place.

A truly unsustainable program.

[sdduuuude]

Just thinking out loud here.

Seems to me that they would eventually have to end such a program, and when they end the program, housing prices would just revert back to where they were.

So, lets say today the market value of a home (without the tax break) is $200K. The gov gives a $15K tax break, meaning people would be willing to spend more than $200K on that house – because they aren’t really paying $200K. Lets say market forces bring about a situation where buyer and seller split the 15K so the house is purchased for $207,500. The buyer spends $192,500.

Lets say a few years pass, and the house value doesn’t change. Expected purchase price is still $207K.

Then, the govt nukes the $15K tax benefit. Without the tax benefit, the expected sales price of the house would go back to 200K. The net effect on housing prices is 0.

If the government reduces spending in other places to make up for the $15,000 loss in revenue, I’d be all for it as it would effectively be a tax reduction. I doubt that will happen.

Really, the govt is keeping gov. spending the same, borrowing the money they didn’t get from the buyers, and paying interest on it all for the purpose of keeping housing prices up for as long as the program is in place.

A truly unsustainable program.

[sdduuuude]

Just thinking out loud here.

Seems to me that they would eventually have to end such a program, and when they end the program, housing prices would just revert back to where they were.

So, lets say today the market value of a home (without the tax break) is $200K. The gov gives a $15K tax break, meaning people would be willing to spend more than $200K on that house – because they aren’t really paying $200K. Lets say market forces bring about a situation where buyer and seller split the 15K so the house is purchased for $207,500. The buyer spends $192,500.

Lets say a few years pass, and the house value doesn’t change. Expected purchase price is still $207K.

Then, the govt nukes the $15K tax benefit. Without the tax benefit, the expected sales price of the house would go back to 200K. The net effect on housing prices is 0.

If the government reduces spending in other places to make up for the $15,000 loss in revenue, I’d be all for it as it would effectively be a tax reduction. I doubt that will happen.

Really, the govt is keeping gov. spending the same, borrowing the money they didn’t get from the buyers, and paying interest on it all for the purpose of keeping housing prices up for as long as the program is in place.

A truly unsustainable program.

[Author]

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