Comments on: $8000 Credit extended – $6500 Credit introduced

By: Matt Jabs

Matt Jabs — Fri, 13 Nov 2009 16:12:37 +0000

Wow Larry… go figure right? Sounds like a case of Murphy’s Law.

Well, at least you are in a healthy enough financial position to take advantage of low housing costs right now… regardless of the credit, it’s a great time to buy if you have the dough!

Congrats.

By: Larry

Larry — Thu, 12 Nov 2009 22:21:33 +0000

Well we closed on the 6th (date it was signed, thinking we would be able to benefit), and one page interpreting all this said “date after” would be on the 7th which would suck if we missed out because we closed the date this was made into law. We meet all the other qualifications and we closed a few hours after it was enacted, sigh.

By: Paula Jo

Paula Jo — Sat, 07 Nov 2009 01:15:29 +0000

I feel sorry for those people they jump on buying a home for the $8,000 First Homebuyer Tax Credit without really thinking about they will have to pay for their home for many many years without receiving another big gift from the governement. I’m not al all saying people shouldn’t try to buy an own home but people should think carefully about if the also can afford what they are thinking about to buy.

By: Is The $6,500 Homebuyer Tax Credit Retroactive For Existing Home Owners? | Debt Free Adventure!

Fri, 06 Nov 2009 21:44:27 +0000

[...] question looming large on the minds of a lot of many people is whether the $6,500 homebuyer tax credit will be retroactive or not. Meaning, if you purchased your home before the inception of the tax [...]

By: Financial Samurai

Financial Samurai — Fri, 06 Nov 2009 20:42:41 +0000

I’m for the extension. We’re already spending billions and billions already, what’s another $100 billion here and there?

Now the next step is to extend unemployment benefits by another 6 months (I’m strongly FOR this, seriously) as being unemployed now is horrible. Employers pay into the program while we work, so we deserve it back, just in case.

Finally, the gov’t needs to raise the $8,000 tax credit for ALL people, not just singles earning $125K or less, and couples earning less than $250k. That’s just plain wrong!

Equality for all!

FS
.-= Financial Samurai´s last blog ..Never Call In Sick On Friday, Slacker! =-.

By: Angie

Angie — Fri, 06 Nov 2009 17:15:17 +0000

What is the US coming to? This is the worst idea ever. Tax credits are just encouraging people to make poor decisions on buying a home. I have 156k in debt remaining and am soon to be unemployed. But still I’m trying to figure out ways in my head to afford a down payment. Roll over my 401k to IRA then remove then take my e-fund. Might be able to squeeze the 5% for an FHA loan. Then I can boost my debt to around 400k! Now do you see why this is a HORRIBLE idea? Its convincing even generally level-headed people to scrape by as much as they can so they can get the “free” money.

Don’t get me started on unemployment benefits. 99 weeks is insane. It gives people no incentive to even find part time work because they lose their benefits. They are getting paid to stay home. I’m sick of the stories on CNN about people taking their dream soul-searching vacation with their savings, yet still receiving unemployment. Its ridiculous.

By: Matt Jabs

Matt Jabs — Fri, 06 Nov 2009 16:40:24 +0000

You’re not the only one Jeff. I for one would like to see the gov’t bow out of financial market matters and worry more about relearning how to run their own operations more efficiently.

By: Jeff @ Sustainablelife blog

Jeff @ Sustainablelife blog — Fri, 06 Nov 2009 15:14:03 +0000

Matt,
I dont think that I agree with this move, and because im not sure about how I feel about it, im going to side with no. What’s going to happen when this credit expires? Will there just be a free 8k to anyone who wants to buy a house at any time in the future? Is the program going to become another entitlement that no one wants to look at thoughtfully and attempt to determine if the credit had run its course, had its effect and is now obsolete? Or, if it even had any effect at all?
I think that if the program gets discontinued after this expires, and it can be proven that it got home sales started up again (even slightly) i’ll be happy with the program. But for now, im skeptical.
.-= Jeff @ Sustainablelife blog´s last blog ..Self Image =-.