First-time home buyer tax credit over at the right time?
Don, who's trying to buy in San Diego, says the lure of the tax credit encouraged buyers to up their offers so "that $8000 is really given to the sellers (and banks!)" He's glad it's over.
Joanne, another buyer, had the same bidding-war experience but is of a different mind about the credit. "I would rather see the tax credit extended as to see the government give more welfare to those that sit and not work and expect a handout," she commented.
So, here, let's make it a poll: Was the credit expiration well-timed?
A few notable stats:
Homebuyer tax credits claimed by Americans through the middle of February for purchases in 2008 and 2009: 1,795,429
Value of those credits: $12.7 billion
Number of credits claimed by Maryland residents: 29,298
Value of those credits: $206.5 million