[mEDITate-OR:
completely miss how good the good news is...
and/or giving "credit" where the Credit is due...
There is very little doubt that the New Home Buyer Tax Credit worked.
How much it worked, and what will happen when it is gone, is not clear.
Disirregardless, this economic fix did work, well...
which goes to show U.S. and you that you CAN legislate morality.
The policy of U.S. has been from WW2 to encourage home ownership.
This measure did precisely that.
And, since this measure added existing homes to the fix...
this encourage people to move up.
Almost as important was the "mobility factor".
For almost a year you COULD sell you current home and move to a new job.
There were, of course, a few minor problems with that...
first, there were, and are, no new jobs to move to...
and if you were in a sand state you were too underwater to be able to sell your home
and if you had a home worth more than the FMae&FMac limits there was no financing.
But, what is life if there are not a few challenges to face.
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New-home sales see biggest jump in 47 years
Sales surge 27 percent, the strongest month since July
Sales of new homes surged 27 percent last month, bouncing off the previous month's record low and blowing past expectations as government incentives and better weather boosted sales.
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Home sales, jobless figures point to recovery
Government incentives fuel real estate surge, benefits claims fall
Home sales rose sharply last month and claims for jobless benefits fell last week. The two reports Thursday sketched a picture of a modestly improving economy.
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Mortgage rates hold fast, still above 5 percent
National average for a 30-year fixed loan is unchanged 5.07 percent
Rates for long-term mortgages dropped this week but still remained above 5 percent, Freddie Mac said Thursday.
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Jobless claims drop as labor market improves
Also, producer prices up strongly on food, but inflation remains muted
The number of U.S. workers filing new applications for unemployment insurance fell as expected last week, resuming a downward trend that had been interrupted by the Easter holiday.
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Video |
Sales of new homes jumped 27 percent for the month of March, fueled in part by the homebuyer tax credit and better weather. |
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Video |
April 22: Existing homes sales in the month of March jump 7%. Realtors attribute the recent spike in sales to the government's Home Buyer Tax Credit. |
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