October 29th, 2009 . by Jon Modene
This site - www.usdebtclock.org.
In honor of the soon to be renewed and expanded taxpayer giveaway of money to MORE home buyers – shamelessly pushed by my own guild/trade group the National Association of Realtors . . . I urge you to go HERE.
Think about this when you vote on Tuesday.
When you think about what we are doing to our children and grandchildren.
Just think about it.
It is madness.
Posted in Jon Modene in Perrysburg Ohio Real Estate, Perrysburg, Uncategorized • No Comments Posted Yet »
Tagged With: national debt • tax credit
October 7th, 2009 . by Jon Modene
The mouse is not running up the clock.
No, the clock is running out on the Grand 2009 Housing Gold Rush Tax Credit.
Think about it – you are going to be GIFTED up to $8000 dollars US currency for buying a house you were going to most likely buy anyway.
Amazing.
For whatever reasons they have chosen – Big Government has decided to intervene on the street, at the place you live, with intimate precision in your wallet.
Because $8000 is a lot of incentive.
No whether you are a libertarian free-market capitalist or not – you will still take the money if it is offered to you. I would. Some 100 year quote from Justice Leorned Hand echoes in my mind . . . . .
So – take the money and run.
No one will think the less about you – forget that the USA is broke. That we don’t really have $8000 to give you. We will print it. Or we will borrow it from China. And your children can pay it back someday (with interest).
But the stock of under $200,000 homes and the number of days you have to close are finite.
So buy now – and let our leaders who authored this program worry about the consequences!
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Tagged With: tax credit
February 9th, 2009 . by Jon Modene
Not one bit.
There are going to be income phase outs.
There are going to be all kinds of government red tape requirements.
But don’t believe me.
Read the experts.
A real economist, James Hamilton, opines:
“If my hunch is correct, then all the house purchase tax credit will do is to modestly increase the number of houses sold each month… with no noticeable impact on house prices.
That doesn’t mean that the tax credit would have no impact. In particular, it may be a boon to some cash-constrained households that want to buy a house right now but can’t borrow enough. And it should help to reduce inventories of unsold houses by a bit. But if you’re hoping that it will make house prices rise, with all of the beneficial economic effects on home equity that such a rise might have… think again.”
Do we really want to be encouraging “cash constrained households” to buy houses they really cannot afford today?
Seriously.
Is not that “solution” somehow related, at least tangentially, to the problem we find ourselves in?
With a GM and Chrysler bankruptcy imminent . . . with declining real property values in Perrysburg . . . with our regional banks failing . . . might I suggest a tax cut? A payroll tax cut? A tax holiday? A tax cut for business? Something to goose employment?
I will encourage every American to pray for our leaders. Pray that they have wisdom. They are lacking it right now by borrowing or printing a TRILLION DOLLARS that we don’t have for things that will not work.
Posted in Jon Modene in Perrysburg Ohio Real Estate, Live Blogging, Market Snapshot, Perrysburg, Perrysburg Foreclosure, Perrysburg Ohio, Perrysburg Ohio Realtor, Perrysburg Real Estate, Uncategorized, Wood County Real Estate • No Comments Posted Yet »
Tagged With: Perrysburg • perrysburg asset values • perrysburg for sale • real estate values • stimulous package • tax credit
