$15000 Homebuyer credit

[JakeRodgers]

NCREI-that's pretty much what I was thinking originally when I put up this post.
To everyone else-I am an investor/first time homebuyer (as of last August) who took advantage of the $7500 home buyer credit. You know what I did with the money I just got on my tax refund-put it right back in my duplex in the form of repairs/upgrades therefore raising my overall property value! So I disagree that this tax credit will overall damage the housing market further, but maybe I'm an exception to the rule.

[Dave T]

Nobody said the tax credit will damage the housing market.  Chances are that it just won't help. 

If we believe the "experts," the economic crisis is a direct result of housing prices and foreclosures. The entire recession is being blamed on bad home loans and the resulting foreclosures.

People who are losing their homes to foreclosure have either lost their jobs or the homes are upside down and the owners are just walking away.  The mounting REO inventory is further depressing home prices.

We will start to get out of this housing crisis when housing prices stabilize.  Once that happens, the investors who have been sitting on the sidelines with cash in hand are the buyers that will absorb much of the REO inventory.  The investor is the answer to our housing crisis, and the typical investor won't qualify for the tax credit.

[investorman]

Yeah exactly, this is what I am been saying. The investor is the answer, but the government,lenders and banks are basically shunning investors.

. They are begging owner occupants to buy 1 home , while an investor would buy several of them in a heartbeat. If the properties cash flow (which the severally depressed ones should) then I don't see the huge hangup they have over lending. This would save a ton of tax money.