No need for another tax credit

Some markets will hardly notice absence of stimulus

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The federal homebuyer tax credit is fading away, and it won’t be missed by all.

It looked good on paper: an $8,000 tax credit for first-time buyers and $6,500 for existing homeowners buying a new house.

And, the general consensus is the tax credit helped a lot of first-time buyers enter into homeownership, which a majority of folks still think is a good idea — despite the destruction of the financial markets and encompassing recession that has forced millions into foreclosure.