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Tax Credit Extension

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Kelly Martin, "Kelly Martin"

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I'm curious what agents as well as clients think about the Tax Credit Extension, and the new credit being given for existing home owners.
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November 09 - US
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sunnyview

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From what I gather, agents think the tax credit is great because it helps their business. Clients think that the tax credit is great because it puts money in their pocket. Taxpayers who believe in personal and fiscal responsibility think the credit is a costly way to prop up the housing market.
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2 Yes

November 09
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Randy Hooker, Broker/Owner, "GoingForIt"

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Generally speaking, I think sunnyview is correct.  But I have publicly and privately been opposed to the tax credit from the beginning.  It's incredibly short sighted and artificial, and there's no such thing as FREE money.  In the end, our culture and economy will pay a dear price for it.  Just my 2 cents.
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6 Yes

November 09
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klarek the realist

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I think it is wretched.  It's unfunded, expensive, economically detrimental, and does nothing to keep housing "propped up" in the long run, thus trapping more people underwater.
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3 Yes

November 09
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sunnyview

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Klarek, Wretched. I like that. Short, fitting and to the point. It conjures the image of rotting meat.

Mr. Randy, I apologize for the generalization, but the numbers of agents who are pro buyers credit runs so high that it is easy to forget that not everyone in your profession thinks it's a good idea. I offer you my thumb :)
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4 Yes

November 09
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Randy Hooker, Broker/Owner, "GoingForIt"

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Hey sunnyview, I'm actually a fan of yours. wish there was a way to 'follow' you (like on Twitter), that didn't creep you out. No apologies necessary, and thanks for the "thumbs up" ~ right back at ya.   ;-)
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November 09
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klarek the realist

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Randy, count me as a fan of yours.  An agent that can rightly call this horrible credit for what it is makes you a diamond in the rough.
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November 09
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DebtsNMesses

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No rough Klarek... just a diamond. I see a finished diamond. :-)

Sunny, you said it well.

Link The actual cost of the car credits was $25,000 per every $4,500 credit. I wonder what the actual cost of the $8,000 house credit will be...
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November 09
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Roberto Ribas, "azrob"

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Randy, you are on a short list of agents on here that I respect...
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1 Yes

November 09
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Randy Hooker, Broker/Owner, "GoingForIt"

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Thanks, sunnyview, klarek the realist and DebtsNMesses.Here's to hoping that we're all wrong and that the end result of this BS is beneficial to our children and grand-children.  Cheers!!
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November 09
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Randy Hooker, Broker/Owner, "GoingForIt"

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Thx, Rob. You and I have banged heads before, but I'm honored to have your respect. I totally love openness and honesty.  Damn the torpedoes, full speed ahead!   ;-)
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November 09
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Randy Hooker, Broker/Owner, "GoingForIt"

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How are we doing, Kelly? Is this what you expected/wanted?   ;-)
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November 09
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Pasadenan

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Well, I think it is not helpful, but it is all that we can expect from representatives that only represent Mega Corporations and Mega wealthy.

But in general, it is not nearly as bad as all the money that congress dumps into the weapons manufacturing industry every year.

Though just because we are so extremely wasteful in one sector is no excuse to be wasteful in several more.

As we all know, this is just a "give away" to the lending institutions, and the only real reason congress is doing it is they are afraid that FDIC will have to start passing out the "cash" that they've insured for all the depositors.

I would rather have them break up those insolvent mega corporations, and instead of paying cash to depositors for institutions that go under, just transfer their accounts to the post office until the private industry smaller financial institutions are able to catch up.
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November 09
 

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