REALTOR® Magazine-Daily News-Economists: Extend the Housing Tax Credit

REALTOR® Magazine-Daily News-Economists: Extend the Housing Tax Credit.

This is a really interesting article for everyone to check out. There is talk of them extending the Tax credit into 2010.. Some Representatives in Washington are lobbying for it to be expanded to all home buyer’s not only limited to the First Time Home Buyer.

Now I think for sure, this would be a benefit to the economy as a whole. Now I know a lot of you that follow me on this site, are nay sayers! But lets think about this for a second! We are going into the winter after one of the biggest downturns our economy has seen since the Great Depression. Now economists have differing opinions about whether we are coming out of the recession or not. My theory comes from the Real Estate side,. since hello I am in the Real Estate Market.. Now in good old Utah, the winter consists of anywhere from 6 inches to 3 feet of snow on the roads. Which usually translates to a slow Real Estate market. Apparently people don’t enjoy climbing over snow banks to get to the front door. Now, what does this mean? Well it means sales of existing homes, and the wonderful new Construction market in Utah is going to see a big dip. And now for my point, our wonderful economy is so media driven the moment the TV, or Internet report that sales are down, it is going to push the stock market down as well. You know the whole domino affect, and there will be a few economist who will say, “I told you so, we are not out of this mess just yet.” Which is true! However it is predictable, that is how it is every winter. Regardless if it is a good market or bad.. So a little help to motivate buyers who are waiting I think is a wonderful idea..

Thoughts on my wonderful Theory??????