Thursday, October 29, 2009

CNN, Wall Street Journal...Senate closer, agrees to extend home buyer credits

Let's buy two!

I was watching CNN from my home office (kitchen) and they have reported this afternoon on a Senate "tentative agreement" to extend and even expand the first time home buyer's credit through June/July of 2010.

Read the Wall Street Journal report here

The $8,000 will remain for "first time buyers" and we may even see $6,500 for "second time buyers" (I'm still out).

Congress will have to vote of course, but I can't see them denying something tangible to their constituents. The credit has been given "credit" for moving housing, which is important to John Q. Public.

1 comment:

Michael S Messinger said...

$6500 is not quite the $15,000 that was rumored all along but I'll take it over nothing.

It seems like it takes so long to close on a house or refinance. Tell me Eric, do you think there is any way the process could be, oh I don't know, modernized and sped up a bit without compromising financial integrity?