Tax Credit Extension

By November 7, 2009 Market Report No Comments

Rarely will you see comments here regarding politics but this is one instance that I must speak out.  Today marks the day that the “first time home buyer tax credit” was extended and indeed expanded to include current home owners and our politicians deserve thanks.  It is no secret that this area has been pummeled by the melt down of the housing market.  I saw the previous credit give the industry a shot in the arm and watched in fear as the end of it approached.  Fort Myers FL homes have never been more affordable and combined with this credit, first time home buyers are foolish not to act.  Indeed, as a result they have not just been a part of the market; they have been the entire market.  Current home owners have seen their equity dry up and very few are bold enough to take on more debt in such uncertainty.  The extension of this credit is going to give retirees the incentive they need to act.  The credit is obviously not something that can go on forever but truly what is needed here and now.  I commend them.

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