Possible Return of the Tax Credit

admin on September 13, 2010 in Articles, Learning, Real Estate

News has surfaced about the idea of bringing back the home owners tax credit. The tax credit was great for new home owners and other reasons, but may have actually used up all of its juice for good use. If you would like to read more real estate news visit http://www.augustalistingexpert.com .The tax credit did spur the economy and helped many people, but once the credit was gone the housing market stopped moving forward. Many people saw the credit as an opportunity to buy, but it created inflated reports and sales numbers that could not be justified as a full blown market recovery. So should we bring back the credit? This will be debated and I am not so sure that it’s a good idea. I do agree with incentives, but it would be nice for the market to recover based on the employment rate getting back to where it’s supposed to be. There are so many variables in the housing market that I am not sure that the tax credit is the answer. It never was meant to be a long term solution, but in a bad economy everyone is looking for anything that offers them a little hope and help financially.

It’s good to see builders offering incentives to drive people in to purchasing newer homes, but that is not the long term answer either. Augusta Listing Expert has more on the real estate market. I am not sure that anyone has the long term answer, but one thing is for sure; when people are working and they have a sense of security with their income, they will spend more freely. This will carry over to larger purchases like homes, and vehicles. People, I believe are still a little gunshy on making these large purchases right now until they see the economy improve to where they are secure. Not sure when that will happen, but we can all hope for the best.

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