Home Buyer Credit or Not?


May 17, 2011
Written by: Justin Russell

THIS Smart Money article discusses the recent homebuyer credit and how the credit actually costs recipients money. The author makes the point that if buyers had waited until after the credit expired, the subsequent price depreciation of homes would have more than offset any benefit received from the tax credit. 

It is an interesting argument, but it is flawed for a couple of reasons. Not all homes have declined in value since the credit, just the median value. Also, if you were already in the market for a home and would be buying within the couple of month window when the credit was offered, why not take advantage of the credit?   Nevertheless, it is an intriguing argument and highlights just how bad the housing market continues to be.

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