Breaking Housing News….

More evidence that the ‘First Time Home Buyer Credit’ won’t be extended….

….at least in its current form

There are numerous reasons to believe the program is destined soon to go ‘poof’…

1) Numerous reports about abuse in the system.

2) Various studies have shown that the program didn’t create that many sales….buyers would of bought regardless.

3) The overall cost of the program is seen as excessive vs. the benefit.

Watch this CNBC video from Housing News Diva Diana Olick:

If the program is canceled there will be more downward pressure on home prices. Fewer buyers = less momentum = price declines. What does all of this mean to you?

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