My head hurts. More rather, I hurt for my kids and their kids. I’m going to take a very un-popular stand for a real estate agent to take: The Home Buyer Tax Credits are bad for our current housing market and they are bad for the future health of our economy.
The Washington Post
The home-buyer tax credit: Throwing good money after bad
Oh, don’t get me wrong. These are the rules before me so I will maximize those rules to the full benefit of both my clients and my family. I’m going to need to. Can you imagine the weight of national debt our children are going to have on them? What will Jake’s effective tax rates be when he’s forty? (He’s currently seventeen.)
And then, as if Fannie Mae cannot mismanage the system as they have it now, they are going to start renting back properties to the very people they took them from!!!!!!!!!! (Thank you Aaron for the heads up. Sadly, this was already on my radar.)
Never in my life did I expect to have a government so bent on buying votes. Is there anybody this administration is not trying to throw money at? I don’t get too political here on this blog. But it cannot be too hard to figure out that I am a fiscal conservative. There are times to borrow and times to pull back. There are times to invest and times to take your losses. How much debt will we have standing before us before this four years is over. Bush spent like no other President ever and I resented that. But this guy is spending so many times what Bush spent it’s unbelievable.
Take advantage of it and use it to your benefit. You are going to need hard assets when inflation comes. And I’m more convinced than ever that the government will have to use inflation to eliminate some of the debt. Buy an investment property or two for your future. You’re gonna need’em.