That $8,000 tax credit for home buyers cost them $15,000

How? Because they were suckered into buying houses that have subsequently lost (at least) $15,000 in value. $20,000 for early participants.

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3 responses to “That $8,000 tax credit for home buyers cost them $15,000

  1. Ahhh…. Who can now credibly challenge the sheer genius of Keynesian economics?

  2. Swanton

    It only costs them 15 grand if they try to sell now. If they bought only with the expectation of making a quick buck, well, they lost. Sit tight, raise a family, a couple of retrievers and sell when the kids leave home. Forget the house as an investment. It’s a place to live.

  3. Ed

    Swanton,

    I guess you’ve not seen reports like these: http://pajamasmedia.com/instapundit/120836/

    There is not going to be anyone to buy the home after the kids leave–at least not for a price the owners will be happy about.