California tax credit??

[treehugger]

http://www.myfhamortgageblog.com/2010/01/california-10000-first-time-home-buyer-tax-credit/

I choose #3 above

[scaredyclassic]

how much of a “loss leader” is this. itsk inda goofy that a tax benefit runs out at a certain point. magine the federal govt saying, get your 2009 return in quickly, up to 30 million in child tax credits available! but only if you spawn before midnight tonight. is this like a best buy coupon or what? how long will the tax credit last. is there any ballpark sense? $200 million doesnt sound liek a big number but then again we’re desensitized to big numbers. 100 home sales is a million dollars, 100 x 10,000, equals 1 million, so this would cover the first (200 x 100) 20,000 home sales after may 1? how many home sales are average per month in CA

[scaredyclassic]

how much of a “loss leader” is this. itsk inda goofy that a tax benefit runs out at a certain point. magine the federal govt saying, get your 2009 return in quickly, up to 30 million in child tax credits available! but only if you spawn before midnight tonight. is this like a best buy coupon or what? how long will the tax credit last. is there any ballpark sense? $200 million doesnt sound liek a big number but then again we’re desensitized to big numbers. 100 home sales is a million dollars, 100 x 10,000, equals 1 million, so this would cover the first (200 x 100) 20,000 home sales after may 1? how many home sales are average per month in CA

[scaredyclassic]

how much of a “loss leader” is this. itsk inda goofy that a tax benefit runs out at a certain point. magine the federal govt saying, get your 2009 return in quickly, up to 30 million in child tax credits available! but only if you spawn before midnight tonight. is this like a best buy coupon or what? how long will the tax credit last. is there any ballpark sense? $200 million doesnt sound liek a big number but then again we’re desensitized to big numbers. 100 home sales is a million dollars, 100 x 10,000, equals 1 million, so this would cover the first (200 x 100) 20,000 home sales after may 1? how many home sales are average per month in CA

[scaredyclassic]

how much of a “loss leader” is this. itsk inda goofy that a tax benefit runs out at a certain point. magine the federal govt saying, get your 2009 return in quickly, up to 30 million in child tax credits available! but only if you spawn before midnight tonight. is this like a best buy coupon or what? how long will the tax credit last. is there any ballpark sense? $200 million doesnt sound liek a big number but then again we’re desensitized to big numbers. 100 home sales is a million dollars, 100 x 10,000, equals 1 million, so this would cover the first (200 x 100) 20,000 home sales after may 1? how many home sales are average per month in CA

[scaredyclassic]

how much of a “loss leader” is this. itsk inda goofy that a tax benefit runs out at a certain point. magine the federal govt saying, get your 2009 return in quickly, up to 30 million in child tax credits available! but only if you spawn before midnight tonight. is this like a best buy coupon or what? how long will the tax credit last. is there any ballpark sense? $200 million doesnt sound liek a big number but then again we’re desensitized to big numbers. 100 home sales is a million dollars, 100 x 10,000, equals 1 million, so this would cover the first (200 x 100) 20,000 home sales after may 1? how many home sales are average per month in CA

[EconProf]

A state tax credit for buying new homes in CA is so wrong on so many fronts, I don’t know where to begin.
For one thing it helps the rich(er) at the expense of all taxpayers. Only the upper 1/2 or 1/4 of income earnings are buying new homes, generally speaking. Renters especially should be incensed at this subsidy to homebuyers and homebuilders.
And why should this bankrupt state, bleeding jobs, businesses, and middle-class taxpayers be handing out subsidies at all?
The tax credit even operates at cross-purposes to our professed goals. While the politicians claim to want to help underwater homeowners, they subsidize more new homebuilding, thus adding to supply and keeping prices from rising eventually due to natural market forces. The solution to the overbuilding and glut of empty houses is to slow building for a while.

[EconProf]

A state tax credit for buying new homes in CA is so wrong on so many fronts, I don’t know where to begin.
For one thing it helps the rich(er) at the expense of all taxpayers. Only the upper 1/2 or 1/4 of income earnings are buying new homes, generally speaking. Renters especially should be incensed at this subsidy to homebuyers and homebuilders.
And why should this bankrupt state, bleeding jobs, businesses, and middle-class taxpayers be handing out subsidies at all?
The tax credit even operates at cross-purposes to our professed goals. While the politicians claim to want to help underwater homeowners, they subsidize more new homebuilding, thus adding to supply and keeping prices from rising eventually due to natural market forces. The solution to the overbuilding and glut of empty houses is to slow building for a while.

[EconProf]

A state tax credit for buying new homes in CA is so wrong on so many fronts, I don’t know where to begin.
For one thing it helps the rich(er) at the expense of all taxpayers. Only the upper 1/2 or 1/4 of income earnings are buying new homes, generally speaking. Renters especially should be incensed at this subsidy to homebuyers and homebuilders.
And why should this bankrupt state, bleeding jobs, businesses, and middle-class taxpayers be handing out subsidies at all?
The tax credit even operates at cross-purposes to our professed goals. While the politicians claim to want to help underwater homeowners, they subsidize more new homebuilding, thus adding to supply and keeping prices from rising eventually due to natural market forces. The solution to the overbuilding and glut of empty houses is to slow building for a while.

[EconProf]

A state tax credit for buying new homes in CA is so wrong on so many fronts, I don’t know where to begin.
For one thing it helps the rich(er) at the expense of all taxpayers. Only the upper 1/2 or 1/4 of income earnings are buying new homes, generally speaking. Renters especially should be incensed at this subsidy to homebuyers and homebuilders.
And why should this bankrupt state, bleeding jobs, businesses, and middle-class taxpayers be handing out subsidies at all?
The tax credit even operates at cross-purposes to our professed goals. While the politicians claim to want to help underwater homeowners, they subsidize more new homebuilding, thus adding to supply and keeping prices from rising eventually due to natural market forces. The solution to the overbuilding and glut of empty houses is to slow building for a while.

[EconProf]

A state tax credit for buying new homes in CA is so wrong on so many fronts, I don’t know where to begin.
For one thing it helps the rich(er) at the expense of all taxpayers. Only the upper 1/2 or 1/4 of income earnings are buying new homes, generally speaking. Renters especially should be incensed at this subsidy to homebuyers and homebuilders.
And why should this bankrupt state, bleeding jobs, businesses, and middle-class taxpayers be handing out subsidies at all?
The tax credit even operates at cross-purposes to our professed goals. While the politicians claim to want to help underwater homeowners, they subsidize more new homebuilding, thus adding to supply and keeping prices from rising eventually due to natural market forces. The solution to the overbuilding and glut of empty houses is to slow building for a while.

[Casca]

[quote=tom]I don’t want goodies, I want a normalized market! :)[/quote]

Seconded!

[Casca]

[quote=tom]I don’t want goodies, I want a normalized market! :)[/quote]

Seconded!

[Casca]

[quote=tom]I don’t want goodies, I want a normalized market! :)[/quote]

Seconded!

[Casca]

[quote=tom]I don’t want goodies, I want a normalized market! :)[/quote]

Seconded!

[Author]

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