Tax credit for home buyers could underpin market??

Profile picture for Amberleighe

Anyone heard about this?

 

http://www.marketwatch.com/News/Story/Story.aspx?guid=2b3b770422894efcb932f256a6e3f921&siteid=nwhreal&sguid=0O-tnl-Gv06wnMW85owq1A

 

Could it really help some of us sell?

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June 09 2008 - US
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Profile picture for brtlmj

"This so-called 'credit' is really an interest-free loan of $7,500 from the government to first-time home buyers..."

 

Yes, it will help. A bit. A tiny bit. It would save a buyer about $15 per month on a $200,00, 15yr, 5.5% mortgage (assuming that tha $7,500 is paid off in equal installments).

 

In other words, do not expect miracles.

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0Yes

June 09 2008
 
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