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Replies (5)
- John Stewart, "nwhome.us"
- Contributions:2166
The point is that the check, savings (or deduction) would need to be $53,333 in one year (15% tax bracket) if you want to compare it to the tax credit. This is the true equivalent to the homebuyer's impact on income, expenses and taxes.
There is no comparison available to the tax credit. It was unprecedented and won't happen again. If we distance ourselves from it, the objection becomes very easy to overcome.
If you leave the tax credit out of the discussion, there are still some great opportunities to out-perform a rental under the right conditions. And even if the rental is more cost effective, there are lots of good reasons to own a home.
- Pasadenan
- Contributions:21466
The tax credit raised prices on the average between $12k and $30k depending on price range of the home, so it was a complete loss to anyone that took it.
Besides, California has been giving away a $10k tax credit that replaced the federal $8k tax credit the day after the $8k tax credit expired.
Besides, California has been giving away a $10k tax credit that replaced the federal $8k tax credit the day after the $8k tax credit expired.
- hpvanc
- Contributions:2579
Oh my gawd! If I buy a home from you, I bet that my cars will be shiny, and those nasty coffee stains in my clothes will disappear like magic, and I will never have to hear or see a commercial again?
- WA2010
- Contributions:17
This goes to show that Government meddling in real estate market is a terrible idea in the face of free market forces.
- Dan, "the_country_hick"
- Contributions:4699
I think I was smart to wait until the bribe died. Now I am waiting for interest rates to increase and foreclosures to come on strong so I can buy.
Think you missed out because the $8,000 tax credit is over?
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- 0.0/5.0
- (no reviews)
Contributions:170Think you missed out because the $8,000 tax credit is over? The truth is Rates are a full 1% lower NOW! You can SAVE $120 a month on average with the purchase of a $200,000 home which means that in as little as 5 years you can save roughly TWICE the tax credit amount and OVER $43,000 over the full life of the loan!!!
Still think you missed out?
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