The tax credit has been useful and a decent stimulus; but … “eventually you run out of other peoples’ money”
I’d love to see a map or data from the IRS showing where the tax credit was used – broken down by zip code so that someone could generate a heat map showing the parts of the country that used the $8,000 tax credit the most (and least).
I expect the National, State and Local real estate associations to lobby for this tax credit. They are real estate trade groups; this is their job. You don’t see auto unions advocating shutting down auto plants, health care industry seeking more regulation …
At what point do we say “enough is enough”?
All this being said, it seems that we may be seeing glimmers of hope in the Charlottesville area real estate market.
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WaPo on axing the tax credit
http://tinyurl.com/yz3qdta