The housing tax credit is $4,200 off a $150,000 house.

[RB TexLa]

Which the selling agent is going to remind you of in negotiations. They will say, "you are already are getting $15,000 off from the government, do you want my kids to go hungry?"

And if anyone ever calls them they will say that of course they meant to say tax credit of $15,000.

[stray cat]

1. Can't even touch a condo for that in this part of the country

[closeupready]

2. Wait - what?

$4,200 = $15,000? I don't get it.

[RB TexLa]

4. $15,000 tax credit. $15,000 X 28% = $4,200

[GoesTo11]

6. Wrong. Tax deduction would be x 28%, but credit is straight cash.

[closeupready]

8. Yeah, it's a $15,000 credit on a $150,000 home.

n/t

[mike_c]

3. mortgage brokers, lenders, real estate agents, etc will suck that up...

...in no time. It's a cosmetic tweak, of zero actual consequence as soon as the industry figures out how to hoover it up as more profit.

[Oregone]

7. True...but...

If people get conned into paying more for a home to offset this, that cost is spread out over 30 years, and theyll get their tax refund up front. Its the short term that people are concerned about. OTOH, there are probably better ways to stimulate things short term than this.

[Oregone]

5. Very true...but most "average" Americans buying homes will get a tax refund

Someone making $40 K who buys a home is going to get a lot of taxes back.

On the otherhand, how many average Americans are going to be buying homes right now?

[OPERATIONMINDCRIME]

9. You Don't Even Have Any Idea What You're Talking About, Do You.

My god how silly.

[RB TexLa]

11. Yes, I misunderstood it. It's a no interest loan.

[Liberal_in_LA]

10. It's not buyer's business if the the agents kids go hungry. sleazy agents.

I hate their high pressure tactics