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Tag Archives: housing market
Monday Morning Econ Update: Aug. 30, 2010
Existing Home Sales declined 27% from last month.
New Home Sales – ugly.
The actions from the Washington academics (politicians) continue to have unintended negative consequences. Consider the First Time Homebuyer Tax Credit.
The tax credit rewarded those who were already going to purchase homes and those who moved up the timing of an inevitable purchase. Now, potential buyers are feeling reticent to make a move after “missing out” on the free money.
The major problem with our economy is the job market while the focus from Washington has been elsewhere. It seems that each landmark passage of reforms – from aviation to healthcare to financial – has made job creations more challenging.