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First Time Buyers Tax Credit = Expensive Stimulus
Tuesday, September 1, 2009The National Association of Realtors recently estimated that the $8,000 first time buyers tax credit will create 350,000 additional sales (sales that would not have happened but for the tax credit) this year.
Calculated Risk breaks down the numbers further to estimate the cost of each additional sale:
“With 1.9 million first-time buyers, the total cost of the tax credit will be $15.2 billion. Divi...
Original article from http://behindthemortgage.com/behind_the_mortgage/2009/09/first-time-buyers-tax-credit-expensive-stimulus.html
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