The $8000 Federal Tax Credit for first-time buyers ($6500 for non-first-timers) expired last night at midnight.
If you were truly in a position to buy a home, and didn’t make your move, you missed your chance to pick up some easy money. If you were a motivated, ready, willing and able buyer and took advantage of the credit, congratulations on a smart move.
If you weren’t really ready to buy a home, either mentally or fiscally, but were pressured into a purchase with the tax credit used as leverage, good luck!
If you weren’t ready to buy and didn’t because this whole rush for the bucks just didn’t feel right to you, no need to feel guilty; you probably avoided a big mistake.
While the 2 rounds of the tax credit may have (artificially) stimulated the housing market for a while, the program kept the market from finding its real bottom. I am not an economist, but I think real recovery is market based, andartificial Federal props, like the tax credit, have actually delayed recovery by generating skewed sales information.
Now I can finally remove those count-down widgets from this blog and my website.
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What do you think? Leave your comments.