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Reply #3: The first time homebuyers [View All]

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customerserviceguy

(1000+ posts) Send PM | Profile | Ignore

Thu Oct-15-09 08:02 PM
Response to Reply #2

3. The first time homebuyers

will be left with the dregs after the investors are done.

For instance, an investor could buy a $100K home, get $8K right off their taxes, depreciate $5K to $10K off of it, quit making mortgage payments, and dump the thing back on the market for the $90K it was really worth, sucking a huge tax loss at that end of the transaction. It will do nothing to shore up the home values, but will just screw the economy even further, and provide a few more commissions to the housing sales industry.

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