Thoughts on the Extension & Expansion of the Home Buyer Tax Credit

Inman just reported on the Obama Administration's extension and expansion of the home buyer tax credit, and the difficulty in securing the extension (story here: http://www.inman.com/news/2009/11/13/nar-tax-credit-was-nip-and-tuck-bat...).

Among real estate investors and real estate-related businesses, the relief was palpable. "The national real estate market, which you might remember led to the more general economic collapse of 2008, is precarious enough after the modest gains of the summer real estate season." says Greg Davis of EZ Landlord Forms (http://www.ezlandlordforms.com), an online resource and hub for landlords and property managers. He went on to say "Between the generally slower real estate industry in winter, the tepid economy, and the weak job figures, it would have been a tough pill to swallow for the real estate industry if the tax credit were allowed to expire in this environment."

Additional relief was felt among real estate investors in the blogosphere. "I'm not trying to sell anything at the moment, after a miserable time trying to sell in 2008, but anything that helps create demand among buyers is a good thing in this market." Bryant Davis, AKA The Traveling Landlord (http://travelinglandlord.wordpress.com), expressed his approval.

Hopefully the winter will see some hope on the horizon, as we continue to inch towards economic recovery.