Go forth and buy that home...new Senate bill would double credit to $15,000 and EVERYONE would be eligible.

[StageLeft]

Interesting (or unfortunate) that the refi Vic is specifying here applies only to those who are in financial hardship. So, those of us who can continue to pay don't get benefitted. And yet for this $15k there's no such clause, is there?

 

[BoberFett]

Originally posted by: Skoorb
Interesting (or unfortunate) that the refi Vic is specifying here applies only to those who are in financial hardship. So, those of us who can continue to pay don't get benefitted. And yet for this $15k there's no such clause, is there?

It's just more transferring of wealth from the wealthy to the poor. And when I saw wealthy I mean making more than $20K/yr. And when I say poor, I mean stupid because they thought they could buy a $1M home on a $20K salary.

 

[alchemize]

Well, I hope it passes. I'm in the market, could use the tax write-off, and it will nice to be able to get my own piece of the printed money pile.

 

[Phokus]

Great news for me, looking to buy a place sometime this year myself

 

[spidey07]

Originally posted by: Phokus
Great news for me, looking to buy a place sometime this year myself

Nice to see you support a republican idea. You're coming around. Granted this current effort appears to be bi-partisian' admit for once that the repugs were right.

 

[Engineer]

Originally posted by: spidey07

Originally posted by: Phokus
Great news for me, looking to buy a place sometime this year myself

Nice to see you support a republican idea. You're coming around. Granted this current effort appears to be bi-partisian' admit for once that the repugs were right.

In reality, most people could care less which side gives them something...as long as they get something. Whether it's a good idea or not to give more money out for this will be judged at a later time. I think it's just propping up a popping bubble. As I said before, it's "let the free market decide" ....until it's something that I want/like and then all bets are off!

 

[ZeGermans]

cool lets spend shit loads of money to create a housing bubble this will work out well.

 

[BoberFett]

Originally posted by: ZeGermans
cool lets spend shit loads of money to create a housing bubble this will work out well.

Thank god the Democrats are in power, eh comrade?

 

[Herr Kutz]

Giving loans to people who could never hope to pay for them is what got us in this mess in the first place.

 

[ZeGermans]

Originally posted by: BoberFett

Originally posted by: ZeGermans
cool lets spend shit loads of money to create a housing bubble this will work out well.

Thank god the Democrats are in power, eh comrade?

I'm all for spending money on social programs, unfortunately this doesn't help poor people in any way.

 

[Aimster]

I for one welcome this $15,000 credit.. interest rates are going up and the housing market is going to halt

 

[BoberFett]

Originally posted by: ZeGermans

Originally posted by: BoberFett

Originally posted by: ZeGermans
cool lets spend shit loads of money to create a housing bubble this will work out well.

Thank god the Democrats are in power, eh comrade?

I'm all for spending money on social programs, unfortunately this doesn't help poor people in any way.

What if we funded programs to rape poor women? I imagine you'd be for that.

 

[StageLeft]

Originally posted by: Aimster
I for one welcome this $15,000 credit.. interest rates are going up and the housing market is going to halt

So to borrow more money from foreigners is the answer?

Anyway, you people who are now happy to get $15k, you do realize that sellers will raise their prices, right? If $200k was a fair value for their house before and now they know you're getting $15k for free--i.e. people in the market for their house could pay $200k before and now can pay $215, what in the world makes you think they won't raise the price? Indeed, if they didn't, this bill wouldn't even be serving the purpose it's trying to serve, which is to keep housing prices from tumbling further. Of course, it doesn't really help the seller because if they take that extra money they have to spend more of it again buying their next house, so it's quite clear to see it's artificially jacking prices up in a last ditch effort to keep the pied piper from stealing the kids.

Nevermind the fact this $15k is nearly moot from the vicious ramp up in interest rates recently, that tied to treasury yields having to go higher because...people are worried about inflation, inflation fed by excess debt and lending (like with things such as a $15k housing credit).

The irony is fantastic.