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[...] This is a new rule that was passed with the new budget. If you want to read some details I wrote a post about it here. [...]
if a first time buyer eligible for the $7000 first-home tax credit (i think) thru June or July 09, does that mean a first-time buyer who buys a new home in California (this is comedy folks–you can’t make this stuff up) is eligible for $17,000 in tax credits in 2009? That sounds too good to be true,
cheers, Rich
Considering how fast home prices are dropping, anyone who takes this credit is a fool. Home prices (both median and average) dropped 9% in one month (Dec->Jan.) Do the math, and you’ll quickly see that this $10,000 credit would be erased by equity losses within a month or two on most houses.
I also agree that this is a ridiculous way to spend government money. Why should we subsidize people who can’t do math?
-Erica
Rich, yes if a buyer qualifies for the $8000 federal tax credit then they can double dip. I wrote this in the article.
That makes me sick! I can’t believe what this nation is turning into. How does it make sense to tax everybody so that one smaller group can benefit.
*breathing fire*
I am just so tired of all of this. I suppose we’ll just have to wait and see the real ramifications of what all of this does for our economy. Right now it’s not making me too happy and seem socialistic.
I recently moved to London UK two months ago. London does have higher taxes then the U.S.
But then again, in London we are not facing any economic crisis as of now.
I know, everybody in this web site might be suffering from the economic crisis you are all facing, but I am not. The job that I have in London pays enough to support your family and be able to pay UK taxes. The economy of the UK is quite different then the economy of the U.S.
If you are afraid on going poor and losing your house due to the economic crisis, you could do what I did and move out of the country. In parts of London, you could buy a house that is less expensive then the houses of California.
Don’t worry, I steal love the U.S. and I will be visiting the U.S. every two months. By the way, The job that I have in London, you get two months of vacation. That’s a blast.
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