Do you think $8000 first time home buyer credit is a good plan.?

No, it is retarded. No one helped my wife and I buying our first house, why the hell should I pay for someone else to get one?

It does invite more forclosures in the future, just need to loan money to those capable of paying it back.

It would be if "first time" home buyers had the kind of credit to make that a valuable resource or made it easier for them to get the loan they would need in the first place. Either way they'll be paying crazy interest on their new home.

I think that it would be a good idea, IF they had not bailed out the banks, i was under the impression that it was for people who had already purchased their homes within the last year, not someone looking to purchase their home. I know someone who got it and she bought her house in August AND she has to pay it back through her income tax returns for the next few years. But i really don't like the idea.

I agree. That tax credit would have been better served had it been a deferred credit over time, in which the first time home buyer, providing proof, could get up to $8,000 in future tax credits, for direct improvements to the home that they bought. I.E. In 2010 maybe you bought a new furnace, so you get a $1500 line entry credit with your bill of sale. In 2001 you had roof work to the tune of $4000, ditto the tax credit. I think these "handouts" more or less are ridiculous.

Tithing with fidelity and self-discipline isn't any doubt a God glorifying prepare yet you do not want to fall in some style of neo-Judaic legalism ; the main needed regulation of a Christian is Love ; you may in specific circumstances choose for to deprive your self of the internal maximum satisfaction you may derive from cheerfully giving to the Lord as a fashion to stay thoughtful on your own desires and those of your loved ones ; purely you could pray and discern what's the right factor which you will do ; yet uncertain choose for love over self-righteousness.

No. I see it as inflationary. If the seller knows the buyer can get a credit, he will raise his asking price. If the buyer knows he can get a credit, he will pay more for a house.

The government should stay out of free enterprise.

is that what you are getting out of the U.S. stimilus package.... we had a $7000 first home buyers grant probably 4 years back in australia, then last year theyd double it to $14,0000..... it could be a worry for forclosures, but it would be a shot to the vein for your housing industry.

I would say they will also have more regulations on lending

Isn't it a tax credit? Because a tax credit doesn't have anything to do with whether you can afford the house so foreclosure isn't an issue.

YEP... ..meaning more foreclosures...more banking problems...more loss of jobs and money in the end...it is .another shoot off of Clinton's plan.

Dem's want people to be dependent on them so they can't do for themselves...that is socialism. This administration and this stimulus doesn't help those that are responsible and pay for their homes and cars and pay their bills with JOBS! There is no incentive to even PAY for mortgages right now..or to pay your bills. Just don't pay them..the government will bail you out.

This country is going downhill.....quickly .....and those that are blind and can't see this....will soon learn...there is no turning back our great country. We will become a third world country soon if this goes on. We are already puppets of politics....soon we will be puppets of other countries. AND that is the POSITIVE side of things.

Buying a house and making it your home is a dream almost everyone cherishes, irrespective of the geographical boundaries.

http://www.worldbestloans.com/homebuyerprogram.htm

First time home buyers can now opt for first time home buyers loans and buy their choice of home more easily.