Home prices could sink without tax credit..USA TODAY

mfcorey1

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Wed May-12-10 02:17 PM
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Home prices could sink without tax credit..USA TODAY

Home prices are widely expected to fall now that a tax credit for home buyers has expired.
That's raising concern about a possible double dip in home prices.
http://www.usatoday.com/money/economy/housing/2010-05-12-homeprices12_ST_N.htm?loc=interstitialskip

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UndertheOcean

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Wed May-12-10 02:19 PM
Response to Original message

1. Home prices are too high anyway ...$350 k for a DUMP in NJ is ridiculous .n/t

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T Wolf

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Wed May-12-10 02:21 PM
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2. As a temporary boost for young people buying their first house, this was a good thing.

But realistically, how much impacts does a $8,000 credit have when someone is buying a $500,000 home?

So, if that half-million dollar house rises (or falls) that relatively small amount, why is it feared that it will have such a huge impact?

I see the speculators' dirty hands in most of these manipulations of fact and perception.

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Vinca

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Wed May-12-10 02:54 PM
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3. According to a very active broker in our area, the tax credit

made virtually zero difference in home sales. Nobody's buying. End of story.

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leftofcool

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Wed May-12-10 03:40 PM
Response to Reply #3

4. Positively correct!

Our realtor told us that it only made a difference to those still sitting on the fence about buying a house. No one is buying right now except a very few people.

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