$ 7500 new homeowners credit

[jimmcg]

Just noticed that buried deep in the bowels of our president elect's new propossed stimulus legislation is a provision to eliminate the recapture feature pertaining to the new homeowners credit. This legislation obviously has a long road ahead of it but perhaps this will eventually be a real credit after all.

[Larmil]

My uncle said:

Just noticed that buried deep in the bowels of our president elect's new propossed stimulus legislation is a provision to eliminate the recapture feature pertaining to the new homeowners credit. This legislation obviously has a long road ahead of it but perhaps this will eventually be a real credit after all.

"Don't count your chickens before they hatch."

[WhiteOleander]

Just noticed that buried deep in the bowels of our president elect's new propossed stimulus legislation is a provision to eliminate the recapture feature pertaining to the new homeowners credit. This legislation obviously has a long road ahead of it but perhaps this will eventually be a real credit after all.

Why do my tax dollars have to go to someone simply because they bought a house? The way the credit is set up, it does not help the person with a downpayment to get the house. I see no reason they can't pay it back. We are hemorraghing enough money.

[Black Bart]

Yes, yes; it's all very frustrating.

Why do my tax dollars have to go to someone simply because they bought a house? The way the credit is set up, it does not help the person with a downpayment to get the house. I see no reason they can't pay it back. We are hemorraghing enough money.

And I still haven't heard anything back from my congressman yet about my proposal for a First-time Flat-screen HDTV Buyers' Tax Credit for our good citizenry. I'm writing my ..... hmmm.....well, somebody about this....

P.S. Maybe I should let him know that I (unlike the homebuyers who may be gifted with $7,500 of our money) am more patriotic-than-thou/them. I am absolutely willing to replace the Sam's Club 15% interest rate and two-year repayment on my TV with gov't. terms of zero interest and 15 year repayment. While I'd planned switching to Amex at 4%, it is, after all, only fair for us to help the government by participating in programs designed to spend our way out of this money shortage.

[David1980]

(opinion) And all that increasing demand in the housing market does is increase the prices even more. The people who couldn't afford a home still can't and are even less likely to be able to now going into the future.