May 1: The morning after. Homebuyer tax credit expired. Now what?

May 1 is May Day. Could be an appropriate thing to say the day after the homebuyer tax credit expires, don’tcha think?

So here it is… Life after the homebuyer tax credit. For about two years now we’ve had this artificial economic stimulus at work in the housing market. Some say it helped the housing market avoid a complete collapse. Others say it was a waste of money, and simply moved up Americans’ home purchases by a few months. But in just a few scant hours: *poof!* it’s gone.

Mayday! Mayday! Don't worry, it's a model.A few weeks ago we reported on an unscientific Washington Post poll gauging public opinion on what will happen to home values starting today. Two thirds anticipated that we’re in for a dip.

What do you think? What happens now? It’s the topic of our upcoming July/August Commonwealth magazine. 

Leave a comment. Say something interesting and we might call you for an interview.

(photo credit. oh, and don’t worry: that’s a model plane)

 

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2 Responses to May 1: The morning after. Homebuyer tax credit expired. Now what?

  1. Tom Woolfolk says:

    It’s April 30 and I’ve written two contracts today. In both cases the buyers were not pushing for the credit. Exceptions? I think that those who wanted it have already made their offers by now.

  2. I believe in the free market system and feel that with or without the tax credit, that things will be ok. Sure we may have some setbacks, but I feel that peoples need for housing and desire for the American dream will win out in the end.

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