I am trying to find your video but am lost….

Thanks for your comments. I totally agree that NAR and the NAHB should take care of themselves, it’s just the ‘how’ I’m irritated by. I don’t think constantly ‘spinning’ housing data is in the best interest of the consumer and I think the consumer knows it. I think Lawrence Yun needs to have ‘Jive talking’ by the BeeGees playing under about every comment he makes.

I also don’t think ecouraging economic policies that will further damage our recovery down the road is in the consumer’s best interest as well. If it’s not in the consumer’s best interest, it’s ultimately not in the best interest of NAR or the NAHB or Realtors. If consumers don’t believe that we’re doing the right thing for them, they certainly won’t believe much of anything else that comes out of those three groups. From your overall comments I suspect we’re both on the same page on that!

I’m glad you pointed out that NAR and NAHB are more concerned about themselves. They are businesses and that’s what businesses do – I’m not surprised in the least by that. The NAHB even set up a website about the tax credit when it came out and pushed it as the ultimate source for knowledge on the topic. I sent people to the IRS website instead. Of course the NAHB is going to paint it as sunshine and roses.

Hey, I’m not going to deny it – the tax credit is good for business. Good for the businesses that are directly involved – including myself. Is it good for the economy? The taxpayer? The American psychology of purchasing? Look at the big picture in terms of some of those and any one can see there are some troubling issues.

Do I want to sell more houses today? Of course I do. Do I want to sell them today knowing that tomorrow might not be a good day because of that? No. I’ll take my hits now while I’m expected them.

Let’s end the tax credit, let’s end the speculation about it, let’s end the promises of more credit for more people, let’s just end it.

We talk about how we had to make lenders more realistic and had to tighten the reigns on some of these ridiculous loans they were writing – are we not allowing our selves to be unrealistic? How many came off the fence, but how many are waiting for a bigger tax credit? I just don’t see the logic in allowing this to continue.

For what it’s worth, I’ve contacted my two U.S. Senators and rep in the house.

I vote let it go…let the market stablize without any false pump ups.

There are at least nine bills currently in committee (House or Senate) to in some way modify or extend the credit – ranging from Johnny Isaakson (GA – R) $15,000 credit to an extention through March or June of next year. All fail to pay the piper, none require payback.

I think I can comfortably say that your acceptance of the invitation to contribute on Agent Genius is one of the best things to happen to this site.

Navy Chief, Navy Pride

I’m very strongly opposed to extension of this credit – http://mocorealestate.com/2009/09/29/8000-1st-time-homebuyer-credit-expires-soon-is-this-a-bad-thing/

Low interest rates and lower home values are driving the first-time home buyer market in my area. I’ve seen no real evidence that the $8K credit is the *reason* first time home buyers are buying. The NAR ‘Call to Action’ youtube video is an embarrassment. Having random agents tell us why they *think* the credit should be extended doesn’t support the argument that we should run-up the federal deficit even more for a very targeted tax cut.

Deficit spending will drive higher interest rates which can clobber our future real estate market. This is what I worry about most.

I agree with all the others. Great post. This credit for first time home buyers was helpful and I hope they extend it.

Jeff

And sorry Bald Guy, tax cuts don’t create jobs, if they did we wouldn’t be in this recession… go back and look. Despite what you hear, Reagan raised taxes in his 2nd term. Bush 41 famously raised taxes (remember “Read My Lips?) in 1991 or so… and then Clinton raised taxes,(Remember? “Largest Tax Increase in History”) and what happened after 3 tax increases in 6-7years?
Then we had the longest expansion in economic growth sincethe 50′s AND a balanced budget with increased revenues and some spending discipline by the two parties. Despite what one party has sold for decades… Tax policy has a little to do with growth-except some around the edges, that’s it.
So, now that I have committed that first heresy, I’ll go for the 2nd: The problem isn’t we are taxed too much, the problem is we don’t invest enough inside the US. W’s tax cuts- over a trillion dollars, went to our wealthiest Americans and they promptly invested them in hedge funds and overseas companies for their best returns.

There was no trickle down, just a pouring out- out of the US’s productive sector, into the financial sector which had grown to 8% of GDP and 40% of corporate profits by 2008.

I would favor a return of the ITC- the investment tax credit for business… for all its downsides, it would create immediate investment in this country.

We’ve a tough few years ahead…but nothing we can’t get through