[mEDITate_OR:
miss two major perversions in the RE markets...
First, we see the massive increase in TEMPORARY construction employment, to finish off the Buyer Tax Credit homes.
Second, we are now seeing a massive decrease in the price of homes that were not sold.
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"Now that the tax credit is over, we are seeing record price reductions" by sellers
"These price reductions are three to four times more than the tax credit" - $8,000 for qualified first-time buyers; $6,500 maximum for some repeat buyers.
Buyers who waited until after the tax-credit deadline might gain from these reductions.
Sellers who held out for higher prices while the tax credits were in place are much more willing to negotiate now or lower their prices.
"We are seeing hundreds of 5 percent to 20 percent price reductions,"
"The buyers who waited until now may get the best deals of all."
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Builders Rush to Complete Houses by U.S. Tax Credit Deadline
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What tax credit did for market
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