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Forget the credit.
Just take the cash.
Here's the deal:
What a deal!
No more paperwork, or annoying forms, no more waiting until you file your taxes to get that $8,000 tax credit.
Because now it's not a credit, it's cash.
Starting today, the Federal Housing Administration allowing the new home-buyer tax credit to be applied directly toward home purchase costs.
A down payment, if you will, courtesy Uncle Sam.
The National Association of Home Builders loving all this...says it'll stimulate 160,000 home sales across the country.
That got me wondering, right there.
Eight thousand bucks is going to make the difference for 160,000 folks to buy homes?
The same folks whose only obligation is to come up with a 3.5% down payment, so they can get the extra payment?
Didn't folks putting very little money down on homes get us into this nightmare with homes?
And now we're essentially paying them to do it all over again?
I'm not saying it won't put folks in homes.
I am saying it will put taxpayers footing the bill in a bind.
A big one.
Forget about those shopping for homes, what about those shopping for cars?
What's to stop them from asking, "Please, all I need is a thousand bucks and I could buy that Prius?"
Or..."I’d love to go to Orlando and help the economy, but not without a $500 check to help me first?"
Think about it.
If we're covering folks for a house, why not cover them for a car, or trip, or computer or pretty much anything they desire, now sensing they no longer have to save for those desires...The government will cut out the time and just cut them a check.
All I’m saying is cut us all a break.
There used to be a time in this country when you saved for big things.
Now you get a big check simply for desiring them.
