In a hangover from the tax credit induced binge in the July thru Oct period, Nov New Home Sales, which measure contract signings which were likely done when the extension of the tax credit was uncertain and thus believed to be unattainable at the time, totaled 355k annualized, 83k below [...]
Nov Existing Home Sales totaled 6.54mm annualized and were above expectati=
ons of 6.25mm. This reflects contract signings that were likely done in Au=
g and Sept as many buyers took advantage of the home buying tax credit whi=
ch was expected to expire on Nov 30th at the time. [...]
The Nat’l Assoc of Home Builders sentiment survey was a weaker than expect=
ed 16, 2 pts below the estimate and down from 17 in Nov. It’s the weakest=
reading since June. Present conditions fell 1 pt to 16 and the Future out=
look fell 2 pts to 26. [...]
Louisiana's Streamlining Government Commission recommends two new school choice proposals. The first directs the state government to pursue a funding system in which the money follows the child into each school through a student-based budgeting system. The second recommendation is the implementation of a statewide refundable education tax credit program [...]
Here’s a letter that I sent yesterday to the Boston Globe:
You propose a tax credit for firms that hire new employees (”To boost jobs, give tax breaks to businesses that hire,” Dec. 1). Bad idea. A far better idea is to cut taxes on corporate profits.
You correctly recognize that [...]
We’ve consistently noted that perhaps the largest hurdle facing borrowers in this current real estate market is securing financing. Mortgage rates have been historically low for almost a year now, real estate prices are nearing a bottom (if they haven’t reached one already), and incentives like tax credits have been [...]
EPI's American Jobs Plan:
Strengthen the safety net"
unemployment compensation COBRA health coverage nutrition assistance)Fiscal relief to state and local governments
Investments in transportation and schools
Direct creation of public service jobs
A new job creation tax credit.
"The American Jobs Plan... will create at least 4.6 million jobs in the first year, at a total' [...]
Unfortunately, this is rather old news. In early May we had warned readers that those few extra bucks you were receiving in your paycheck each week, thanks to the president’s Making Work Pay tax credit, may need to be paid back come tax time.
It’s safe to say that when it comes to government programs — whether they be consumer incentives (tax credits), industry overhauls (credit card and financial reform), or economic initiatives (stimulus, loan mods and refis) — we at HSH.com are skeptics. Our first reaction tends to be one of query [...]
Saturday
“Home Equity: Why 2015 is the New Zero”
Friday
“Supporting Housing, But at What Cost?”
Thursday
“Looking for a Job — Have You Tried Modifying Mortgages?”
“Minimum Underwriting Standards: The First Step”
Wednesday
“94% Say ‘Would Have Bought Home Without Tax Credit’”
“Philly’s Foreclosure Program Is Becoming A National Model”
Tuesday
