Comments on: Homebuyer tax credit extended, increased, and open to all homebuyers?!

By: Andy

Andy — Thu, 01 Apr 2010 21:12:25 +0000

I have been working on buying a house for 1-1/2 months now. I understand that I do not qualify for the First Time Homeowners credit because my wife sold her house less than three years ago. I also do not qualify for the $6500 credit because we have not owned a house for at least three years currently. (I am a first time home buyer) At this point and my families future, I do not want the Governments hand out. Every since I was 18 I have battled just to build my credit. I still believe in the American Dream.

By: uclalien

uclalien — Fri, 12 Mar 2010 19:33:03 +0000

Betty-
Whether you choose to blame the government for its various programs that push home ownership, buyers/sellers who had (and continue to have) unreasonable expectations for home values, or bankers for making irresponsible loans, the economy is in the tank because of all three. All of which are the result of human action. Saying this recession “isn’t our fault” is a cop out and does nothing to prevent the same thing from happening again in the future. I’m not trying to be mean, but if you need to move, no matter the reason, this would seem to imply that you made a bad choice when purchasing your home. It really isn’t taxpayers’ responsibility to pay for your lack of foresight.

And of course your home will take longer to sell. It’s overpriced! Otherwise, you wouldn’t need taxpayers to chip in to get someone to buy it at an inflated price. The sooner sellers realize this, the better off we will all be. Those who are pushing for taxpayers to subsidize the sale and/or purchase of homes are only perpetuating the problem.

By: uclalien

uclalien — Fri, 12 Mar 2010 19:32:41 +0000

Barry-
Perhaps you didn’t receive a “free ‘Ameridream’ downpayment plan” (yet), but the fact is that the government is heavily subsidizing ALL home purchases in the US (including yours) through artificially low interest rates, the direct purchase and guarantee of mortgages, and other government programs.

“So what’s wrong with letting EVERYONE in on a little help?”

The problem is that:
1) The government can’t afford it (or in other words, it’s bankrupt).
2) It really doesn’t help at all. It only inflates home prices.

By: Betty

Betty — Fri, 12 Mar 2010 02:06:16 +0000

It takes longer to sell because of the economy, which isn’t our fault ,so yes I wish they would extend the money for buying a home and yes 1500 would be great for both first time home buyers and people like us that are trying to sell our house and move we need more time!!!!

By: Barry

Barry — Sat, 06 Mar 2010 16:59:56 +0000

Giving something to everyone? Didn’t think that was possible. Usually it’s only special interest that get the breaks. HUD did a great job of that and THAT’S why we are in the mess we are in. Don’t remember anyone ever knocking on my door with free “Ameridream” downpayment plans…Oh, wait, I’m American and my heritage is “mostly” white; (not enough Indian to qualify, only 1/8th). So what’s wrong with letting EVERYONE in on a little help? Believe me if you don’t take it while they offer it, someone else will set up an organization to give it away somewhere else anyway. The government will never stop funding special interest groups….Get use to it! 15K, I’ll take it!

By: Steph

Steph — Fri, 19 Feb 2010 06:10:25 +0000

@uclalien: wow, you are absolutely right on the money (pardon the pun) here. Not only that, but we don’t have the money! The government is throwing money here, there and everywhere that we don’t have. You and I must live on a budget, right? We have all got in over our heads with debt (I would guess, most of us anyway) and it takes a monumental effort to become debt-free. We have to do without for a while, right? We have to carefully plan our meals, our trips in the car are planned, right? So the federal (and, in my case, the state) government continues to spend money that it does not have. No money? No problem! We’ll just print some more. We are looking at some serious repercussions soon and our children and grandchildren will be the ones cleaning up the mess. Very nice of them to give a tax credit but our kids will be the ones who actually pay them in the way of high taxes and/or hyper-inflation.

By: uclalien

uclalien — Fri, 19 Feb 2010 05:46:12 +0000

The Haitian government has a long history of oppressive and corrupt dictators. With this came a great deal of government control. This government control and oppression has lead to Haiti being the poorest nation in the Americas. You are mistaken if you believe that some lack of government involvement lead to Haiti’s history of economic woes.

The US, on the other hand, has achieved financial prosperity because it was founded on the idea of liberty. The founders believed that a free society is the most just and would result in the greatest prosperity. Policies that take money from one person for the purpose of redistribution spit in the face of what has made the US such a success.

But all this talk about Haiti really has little to do with the conversation. The question we should be really asking is:
Is it the US government’s responsibility to assure that home prices continue to rise? Put another way, do you believe that the US government should take money out of your paycheck to assure that your neighbor’s home doesn’t decline in value? If so, we can get rid of the middle man by having you send checks directly to people like my sister (home value declined by nearly 60% over the past 4 years).

I’m of the belief that people should only buy homes that they can afford, regardless of government incentives. Policies such as these only distort markets and create bubbles like the one that exploded 3-4 years ago.

By: Brian

Brian — Fri, 19 Feb 2010 00:01:25 +0000

No one seems to like “BIG” goverment, right. Then why are we so much better off than the poverty, millitary ran, no people’s goverment nations. Why are we in Hatti saving what is left. I think we should take another look at what we have and why we have it. In your everyday life what have you given up just because it was not needed in another one’s eyes.

By: * Moolanomy Is Becoming A Multi-Author Blog

* Moolanomy Is Becoming A Multi-Author Blog — Sun, 31 Jan 2010 17:17:00 +0000

[...] Homebuyer tax credit extended, increased, and open to all homebuyers?! at Christian Personal Finance — Heck, screw the fact that our government is spending shed load of money. I am planning to buy a house in Virginia and would love to have a $15,000 tax credit. [...]

By: Raymond Lippitt

Raymond Lippitt — Sat, 23 Jan 2010 02:05:08 +0000

(Burn for $8000.00). We were told that there would be nothing held from us, and all bills would first be presented on CNN prior to passing. The first stimulus was not made public until three months after passing.
If I knew that there was a 3 year period before purchasing a new home I could have delayed my mortgage two months and be a first time home buyer.

Thank you government for the lie. As a Viet Nam vet I should be used to being screwed by this government.