NEW YORK (CNNMoney.com) -- Existing home sales jumped 6.8% in March, with home buyers racing to get a tax credit that expires in April, according to a real estate industry report released Thursday.
Great plan and a great stimulus. Bush would have never wanted the poor renters to have a home. No way.
No one here better complain about the stimulus plan here. It was a tax cut that stimulated an increase in home sales. Good for everyone. Thank god we have a president in place that cares about America.
The tax credit "has been a resounding success," NAR chief economist Lawrence Yun, said in a prepared statement. "This is preserving perhaps $1 trillion in largely middle class housing wealth that may have been wiped out."
How much did it cost to preserve a trillion in wealth???????
I know it benefited primarily the middle class and that was why the Rep's voted against it, but what a success!!
You're always good for a bit of comic relief, Will. How does this balance with the increased number of foreclosures?
Quote:
Amid growing signs of an economic recovery, one troubling fact remains: Foreclosure rates aren’t slowing down. In March, 367,056 foreclosure filings were reported, according to RealtyTrac, up 19% from February and up 8% from a year earlier. It was the highest monthly total RealtyTrac has recorded since it began issuing a foreclosure report in January 2005.
Just a little suggestion... If you're a poor renter, you probably shouldn't buy a house. You'll end up in foreclosure. That's the type of thing that precipitated this whole economic mess that we find ourselves in.
Maybe some of the poor contractors that can't get work that are on the edge of filing foreclosure can begin to rebuild the inventory that is getting sucked up and save he and his family from losing their own house.
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I love Christmas lights. They remind me of the people who voted for Obama. They all hang together; half of them don't work, and the ones that do, aren't that bright.
For those who understand, no explanation is needed. For those who do
not understand, no explanation is possible.
A golf course is a willful and deliberate misuse of a perfectly good rifle range.
Sales are being driven by bank owned foreclosuers, short sales, and private sales by those who can afford to undercut the market. A bank foreclosuer on the books, is a sale. The article is much to do about nothing. When you see an explosion in new home construction....then wake me up.
Obama Does it Again - !!!!!!!!!!
