An interesting post on Calculated Risk this morning points out a few notable near-term home price predictions: Housing consultant Ivy Zelman via the New York Times: …home prices are going back down. Moody’s chief economist Mark Zandi via Bloomberg: I think we’re going to see another leg down. And Goldman Sachs chief economist Jan Hatzius:…
Tag: tax credit
October Reporting Roundup: Happy Fun Tax Credit Party Time!
Time for the monthly reporting roundup, where I read all the local paper rehashes of the NWMLS press release so you don’t have to. Here’s a link to this month’s NWMLS press release: Tax credit spurs big surge in Western Washington home sales Before we get into the roundup, I’d like to take a moment…
Extension to Fraud-Laced $8k Homebuyer Tax Credit to Piggy-Back on Unemployment Bill?
Here’s a pair of somewhat conflicting stories about the push to extend and expand the inefficient, expensive, economically stupid $8,000 first-time homebuyer tax credit. From the real estate news source Inman News: Final push for tax credit Real estate industry trade groups are mounting a final push for an extension of the first-time homebuyer tax…
Estimating the Local Effects and Aftermath of the $8,000 Tax Credit
Organizations like the National Ass. of Realtors and the National Ass. of Home Builders have been throwing around estimates of how many sales have been “stimulated” by the $8,000 tax credit nationwide, and a recent editorial by Washington State Treasurer James McIntire in favor of the inefficient, expensive, and economically stupid program throws out a…
Lawrence Yun: “Home values have overshot downward”
In case there is any doubt about whether NAR chief “economist” Lawrence Yun is just as much of a shameless price-boosting shill as his predecessor David Lereah, I present some excerpts from a post he made on Friday regarding the inefficient, expensive, and economically stupid homebuyer tax credit: Unleashing Pent-Up Housing Demand and Sustainable Economic…