Obama To Sign Bill Friday Extending Homebuyers Credit

Woohoo! home seller tax credit! Gld to see we want homes to go up price!

Pity he extended it -- now there's no rush to buy ...

[How can I make a rocking-chair sound with my computer keyboard?]

yes it's called the wealth effect. deflation would be catastrophic.

Buy now or be priced out forever!

Let's see: $8,000 / $1,500,000 = .000053% off!

YAY! YAY! I'm on my way to Pismo Beach!

Oh, wait, it doesn't count for the BONUS MONEY APARTMENTS! It counts for that dirt-cheap $800,000 studio next to the projects that I was interested in....

The Caledonia.

No, that's not it. It's more cynical. The agreement was that banks could use earnings to meet capital requirements. Everyhing being done is to allow banks to record maximum profits(zero fed funds and create situation where they can increase the price on their resi bonds, etc)

i just received, via UPS no less, an urgent letter from citimortgage offering us refinancing. but this is the best: "need additional cash? use a cash-out refinance to leverage the equity in your home and borrow money at a lower rate!"

i think they're running out of borrowers. what a pity.

I think Citimortgage is one of the finance units they're trying to off. Looks like they want the pump up the cash flow & fee income before they do.

"need additional cash? use a cash-out refinance to leverage the equity in your home and borrow money at a lower rate!"

uh, isn't that one of the reasons we got into this mess in the first place?

wow, I thought stevef was desparate before...

i'm sure glad citi learned their lesson.