So was everyone devouring the news and headlines last Friday as you sped off to your Labor Day weekend? Right, neither were we.
But here’s a good pair of quotes from an article that ran last Friday in the San Francisco Chronicle. As the paper reports, the National Association of Realtors (NAR) and a senior economist with the National Association of Home Builders (NAHB) are giving the big thumbs down on another homebuyer tax credit.
“We are not advocating another one. We think it’s important for the market to have time to recover on its own,” said Walter Molony, spokesman for the NAR. Bernard Markstein, a senior economist with the NAHB, has a sobering assessment of the idea: “we are bordering on where tax credits become ineffective.”