Forum
« Pella Windows Want My Composter? $30! »
July 27, 2009
First Time Buyer 15k Credit
A few weeks ago I read about a couple of senators wanting to extend the home buyer tax credit from 8,000 to 15,000 till the end of 2010. Link from bloomberg here:
http://bk.ly/bY
Does anyone in this forum actually think this will occur? What if anything do you think will happen after the December deadline?
Thanks in advance
Comments
I say it will. I'll bet 50 bux, but not 5000.
Posted by: denton at July 27, 2009 6:32 PM
I hope this won't.
Yes, I'm someone who was able to get the 8K credit - my sister got the 7.5K credit and has to pay it back. I think the 8K credit should be paid back as well.
The biggest issue I have with the plan mentioned in the link is no cap on income. I'm sorry, but if you're making that much you should be able to have the downpayment and closing costs saved up. If you don't, don't buy.
I was ready to buy with or without the credit. The credit just made things easier and gave me the opportunity to do what the ideal of the credit was all about anyway - buy paint, furniture, rugs etc that I would have put off getting and bought over time to 'stimulate' the economy.
Posted by: Flatbushrising at July 28, 2009 12:48 PM
I hope this happens. I feel like I'm going to miss out on the 8K credit as the year is winding down and I still haven't found a place yet.
Yes I agree, there should be an income cap as those making well into a 6 figure salary don't need this at all.
I have a feeling it won't as the Republican party has fought against these hard all year.
Posted by: NYGuy7 at August 11, 2009 11:50 AM
Post a comment
Please be patient while your comment is published. It may take a moment.