Putting this here since it is where the thread was at the moment. It might be able to take it's own thread, but here goes


Housing Secretary: Homebuyer tax credit on the table due to 'concern' for industry


http://thehill.com/blogs/on-the-money/ba...it-on-the-table

My personal take is No Mas Por Favor. I do not like all of the market intervention.

If you do not want to follow the link, got thehill.com and see the story there.

A new home buyer tax credit will only artificially inflate values for a short period of time like what happened earlier this year IMHO. It is what it is, and I personally believe that fall out now is better than prolonged fall out which is inevitable to occur down the road anyway.

Not to get political, but every gov't tax credit, bail-out, stimulus, etc has to be paid back eventually down the road. I don't see a benefit from preventing what many see to be a forecasted expected housing/economic decline either way. Perhaps however I am not seeing the full picture.

Let's see now.......More people are going into foreclosure due to being unemployed, more major chains are shutting stores down due to the lack of business (more unemployment?), more jobs being outsourced overseas (more unemployment?}, more suppliers are reducing their number of employee's due to the lack of orders from major companies (more unemployment?).

Even a blind man can see the real issue. Apparently, on the HILL, they're still wearing blinders. I'm beginning to wonder if this is their attempt to create the "Great Society"...When I first heard this, I thought it was a bunch of bunk. I'm really beginning to wonder......If people are working at a decent wage and have some sort of job security, and not living in fear of being unemployed, they spend money......just basic business economics 101A.

I received a call this afternoon from a relative on the east coast. He said they just paid all their monthly bills and have $18 to live on for the next two weeks.....not a pretty picture.

During the last 3 years I've learned to be very conservative when it comes to spending money.....not cheap....just basic business economics. To this point, I've survived. As for friends of mine that are still in this business, well, that's a horse of a different color. I don't expect most of them to last another 6 months.......sad, but true. Most have said, "we didn't expect the recession to last this long".

I believe, if the unemployment problem isn't corrected soon, we're just seeing the tip of the iceberg.....

I know I've stated this before.........When homeowners wake up and realize how long it's going to take to break even on their upside down mortgage, you're going to see massive walk aways......Would you care to guess how many years it will take to even out on a property with a current value of $200k, yet has a $400k mortgage? Factor in a 5% annual appreciation factor (which may be high). You'll be surprised at the result.......end of rant.

It isn't just that they spend money, they're independent of government assistance. More options, more freedom, more independence.

I will add another pivot point to the discussion. I think the November Elections will mark a turning point too. I am not trying to say anything political. This is a common thing in our history where by the people give control of congress to the oppposite party in the White House. I think alot of people and businesses feel like they are standing on ice right now. Not thin ice for this analogy, just ice. If they move they might slip and fall on their cans, maybe sprain a wrist. I think the elections will go a long way to thaw the ice. Then people will feel the ground with their feet and start to change their behavior patterns.
Also what you both said.

On thread topic....
Usually, I if I get an order by noon I have a normal week. We will see. Nothing so far.

Didn't the gov't say they wanted to double exports within the next 5 years or something to that effect? Seems that would go much further in improving home prices then another temporary tax credit.

Jobs involved in exporting generally pay very well.

Interesting Grexley. I have read we had an depression in the 1890s or something. We exported our way out of that. Canned food I think it was.

Ouch!!!.........No orders this morning.....That's no a good sign. Come on CC, do your thing....lol

Murcor is down again , BPO late 3 days...........

2 EMLs this morning, tends to come in waves with me. A lull then all of the sudden everyone hits a once.
Speaking of PCV, I have one thats been there almost 3 weeks now and they won't pull it. I can't get access because it involves a messy divorce and they aren't cooperating for access.

As for the tax credit, its a bad bad bad idea. Please no more spending Washington, you're creating this mass dependency state that stifles real economic growth.

I heard a rumor about Blanket Refi's for everyone w/Fannie & Freddie loans.

It'd be cooler if Oprah announced it on her show: "AAAAAaaannnnd YOU get a mortgage credit! and YOU get a mortgage credit! YOU ALL GET A MORTGAGE CREDIT!!!! MORTGAAAAAAAAGE CREEEEEEDIT!!!!"

That was funny Artiste.

I got a odd ball interior before noon today from source net.
I missed a triple r.
Missed an emort.
Then picked up an emort interior.

So 2 in the bag for now.
I am about to terms on my double dip deal.

Edit It's a 3 bagger for Monday, just grabbed a db.
That's a decent start to the week over in my house.

so we do NOT want to give tax credit for people to BUY homes---but we HAVE to give tax discounts to millionaires?

hmm--being a small business owner i guess it is cool not to pay taxes--of course i will not hire more people with that money--I WILL JUST BUY CHEAP HOUSES..and rent them out to people who cannot buy them..


I just do not get the conservative mind--really!

love corporate welfare but hate health care for all..
love huge war budget but hate education spending.
love paying corporate farmers NOT to grow food but hate government oversight to make sure the food is safe..
love giving billions to oil companies to keep gas cheap--but refuse to help alternative energy companies..

i guess i am missing something..

personally--if we could sell 1 million more homes--i say give the tax credit!
I BET ALL OF YOU APPOSED TO THIS ARE REAL BIG ON TAX CUTS RIGHT????

well just consider this a tax cut? anyone against tax cuts????? for new home owners???
only 3 orders to day- slowest month in 4 years!

Finally, a few flurries of orders have been coming in, but not nearly enough to make a even a paltry week of BPO income. Quite pathetic actually.