First time homebuyer’s credit
The first time homebuyer’s credit has helped tens of thousands of home buyers purchase property this year. Nationally it’s accounted for about one in every three home sales. Appliance stores, carpet companies, furniture showrooms and a myriad of other businesses have benefited from the legislation.
Many fear what will happen if it evaporates at twelve midnight on November 30th, 2008. What will happen is exactly what should happen in a free market. While Realtors and some consumers may want it extended, the reality is the $8,000 first time home buyer credit has run it’s course. After all it’s not about the Realtors…it’s about our national long term economic viability and here’s why: