Thank your baby for the $8000 gift

maybe hallmark is developing some new cards as we type.

I just really hope it is not extended...but likely the real estate and home building lobbyists will win out. Here's a thought Washington, instead of propping up the economy by keeping home prices up at the expense of the dollar and those who saved wisely, lets take the pain and make home prices affordable again to the average American

Real Estate and home builder lobby is very powerful. They contribute a great deal of money. Check out opensecrets.org

http://www.housingwire.com/2009/11/04/senate-approves-homebuyer-tax-credit/

Stimulating aggregate demand is still necessary, but I certainly agree that there were more effective ways to do it than to do extend this lame tax credit. And predictions are the house will pass it.

It's not just "The Real Estate" lobby behind this, by the way, it's also middle-class people who are just as happy as Bank of America AIG to get a handout. Just like Republican farmers getting paid by the government not to plant.

Mostly this credit is a giveaway to people who would have bought a house/apt anyway, they just are doing it slightly sooner, which is just robbing from future sales. If recipients just use it to pay down debt, it's not as effective a stimulus for aggregate demand as if they spent it immediately on durable goods, say.

The extension of unemployment benefits is actually much more helpful to the economy as a whole. Those folks will for sure spend that money.

{Manhattan real estate agent.}

this administration clearly does not have the political will to let uber stimulutive policies fade. people get used to them, markets get used to them, an adjustment will occur when they are not there, and that is not the american way

Urbandigs
Giving Congress the power to Tax,Spend and Collect campaign Contributions from Corporations & Trade Groups has clearly created some distortions in our system.