Comments on: Senate and House of Representatives Agree on Stimulus Bill Compromise

By: Brian

Brian — Thu, 12 Feb 2009 18:05:27 +0000

Update 3 should read “leaving the House’s version” not the Senate’s. The Senate’s was the $15,000 option.

Also, it is yet to be seen if the new version is refundable or not, if not it is much less valuable.

By: Neil Q

Neil Q — Thu, 12 Feb 2009 16:08:37 +0000

wow..

The odds of me buying a home this year has definitely been “significantly reduced”.

If this is just an extension of the currant program, what a joke. A no interest loan where i cant combine with FTHB assistance. No thanks.

By: Igbee

Igbee — Thu, 12 Feb 2009 15:07:25 +0000

No longer Buying a home this year.

By: thomas

thomas — Thu, 12 Feb 2009 06:22:12 +0000

I think some of you are giving house buying a little too much credit. Agreed that it is the number one INDICATOR of economic health, but it is not the end all be all.

Banks right now are sitting on money and not lending it. This affects housing, personal loans, but more importantly businesses. We have been living off the credit system for too long and now it’s coming to bite us.

Sustained, long term (read not shovel ready) actions are required to ride the wave. You can’t avoid recessions, you can only hope to shorten them.

By: Marcy

Marcy — Thu, 12 Feb 2009 00:24:04 +0000

I guess they have no background in history. If anyone cares to notice, the housing market is always what leads the economy in to a recession and the housing market leads the economy OUT of a recession.

Right now we have no money flowing and no liquidity. This is the ONE thing that would truly have had a stimulus on the economy within 30-45 days.

I look at some of the non-stimulating portions of this bill and have to wonder if our elected officials really want this economy to blossom again or if they want to drive it in to the ground in the name of power.

By: SpiritWealth

SpiritWealth — Thu, 12 Feb 2009 00:00:36 +0000

AAAAAAARGH! The one thing that could have probably stimulated this economy and fixed the whole option ARM debacle about to happen with resetting interest rates on those home loans. WE NEED BUYERS for homes and no one is going to buy if prices are dropping and the tax credit is not worth the risk. That’s okay, though, because I’m sure the politicians all got their pet projects in there. I hope it wasn’t dropped substantially, and that they have some common sense.

By: Flexo

Flexo — Wed, 11 Feb 2009 21:41:22 +0000

Keith: Unless you have some inside info, I think it might be too early to say. They’ve released some details but not all.

Update: You may be right, Keith. atest report is that the $15k credit is “significantly reduced.”

By: Keith

Keith — Wed, 11 Feb 2009 21:36:54 +0000

Looks like they’ve removed the $15k homebuyers credit.