The first time home buyer tax credit is causing even more problems as this report from the Minyanville website proves.
Writer John Lipton brings out one of the top complaints(landlord losses) we have had with this $8000 credit and asks the question, "What's next?"
But the pace is getting fast and furious as the deadline approaches. ( We got yet another call from one of our tenants taking advantage of this tax break right in the middle of Sunday dinner yesterday.)
Have they no shame?
As we have been complaining, we're being left with two empty units in the middle of winter with little chance of renting them "off season" until things start pumping up again next spring.
Thanks Congress.
As always you're making brilliant business decision as you sculpt the housing market. But is it a work of art yet?
Josh also explains there will be even more housing trouble coming for this White House.
More Trouble Ahead
The "Shadow inventory of foreclosures" not being counted,as well as the IRS trying to figure out 100,000 "suspicious claims" for first time home buyers will be major headaches.
Won't the average taxpayer be thrilled?
Pass the aspirin, please.
Oh, I almost forgot.
We still have over 300,000 foreclosures per month on the books according to Realty Trac.
So why can't the government give us all tax breaks so we can go out and buy?
Why are tax breaks segmented with surgical precision on just a small minority of Americans?
Is all this corruption necessary? Couldn't it have been avoided?
However, rumors are flying that interest rates will be going up this summer, so no matter what the government does at this point with more of these so called first time homebuyer tax breaks- it probably won't matter.
Your tenants probably won't be biting the bait…
Read Where the Housing Market Goes From Here
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