Why Extend Homebuyer Tax Credit?

" is on track to pass the extension of the home buyer tax credit by tomorrow that would be an eight. Thousand dollar tax funded rebate for new homebuyers and may be a credit for a second thoughts on -- as well. Realtor with better homes and gone realty. You know before you tell us why you so much in favor of this thing let me point out but just a couple of negatives. A 100000 investigations into corruption. In this pulp industry this program already one guy's going to prison for heaven's -- it is corrupt you know that says that the federal government program the that I got collar area that it it -- don't like dress. It rolled sales from the future and -- into the present doesn't really add to actual sales just -- them from the future and it's wildly expensive. It'll cost the taxpayer between 1115 billion dollars just that this extension all of which goes on the deficit. And -- in favor of this yet let me explain -- going reverse okay. Last night."

" Every every politician who won election last -- had -- message right tax cuts and cuts spending. -- which is this is his tax cutters this a spending program. I think it's a tax cut you're stimulating people to act now to buy a piece of real state. That it might have -- six months ago or a year ago that might -- year from now either acting now so it doesn't -- to stimulate new economic activity. Well they say that on every new real -- purchase stimulate 63000 -- with an economic activity in the local market so that's. All the real state purchase the lawyers the -- transaction itself. Floor coverings wall coverings paint landscaping there's a significant amount of spending that actually goes on when they move in. But are the biggest the the core problem the economy right now. When all dots right directly back to the lack of faith in the housing market. And the fact that right now we find ourselves in this sense of optimism there's a sense of consumer confidence start to percolate right. So much of the -- the fact that everyday homebuyers don't initial phase of the housing market again. And this ethicists if picks up I do think to stretch or -- more mojo motives going on the war to. And these bombs that are coming off a renewal in the very near future you can tell me it would not going to housing market still in crisis but I'd I digress you have to admit it. That this program robs sales from the future a bulletin into the trust -- you accept that Iowa and I don't have a -- I would say that to look we've had for the last few people for. For the last year we've had a depressed home sale cycle okay you've had people not buying houses that wanted to buy houses I told -- that we've been busy we've shown over. A 150000 homes this year. All right so we've known the whole time the buyers were active that robust they wanted to better deal. The good numbers we're getting right now are not being driven by this at this credit they're being driven by prices being down. The creditors will be of a boost and I'd -- we'll see how this is anything different. Than any other tax cut that we know you give somebody targeted tax cut it stimulates activity issue to move doesn't add to economic activity. It seems to be -- from the future but let's not get into the pockets corrupt. Definitely I can't help with that I mean that every stage of me I didn't accept this right well it's a big government program that's not corrupt than me every. That the the IRS lives on that would. Prosecuting tax division I don't know who. Is running out there right now and saying okay this is an easy one to prove either you close and real estate transaction thought it might income tax rate and that he's not corrupt. There's no corrupt elements in cutting my tax -- well depends on what you're going -- come down after the it and that is corruption if you offer this tax credit. And people who are not at eligible for back tax credit take it that's corrupt yet but how's that different that somebody had an income you're gonna get -- want -- us and you want all help you could possibly get a look at because missile what you thought this was a a government -- I would be in favor of entitlement and I don't see it that way I think again asked the question if if if a government official runs on the message of a tax cut. A tax cuts and cutting government spending. There are tax cuts out there that are targeted to try to encourage people act in a certain way invest in a certain way and this is happening and it's working and it's money. It's as if it's 8000 dollars that I'm not going to send. To DC next year and how could not be good -- you know of that so you'll vote for the for the Democrats -- because -- effect this program and they're offering you and your industry what everybody is offering everybody's vote for a nice dogs to the question. Programs. -- thanks so much we appreciate -- good stuff."