Stories About Whether Housing Tax Incentives Will Be Extended Come To An End!


I, for one, am glad it is finally over–not the federal tax incentives for buying a new home, but all those stories on blogs and in newspapers (you do remember those?) debating about whether once April 30th comes, the government would or would not extend the tax breaks yet one more time?

In the past few weeks, I’ve read posts that said it was 100% certain that Washington wouldn’t kill the goose that laid the golden mortgage, not with homes sales picking up apparently as the deadline neared.

Then, there were all those stories about how there was no way the government would extend the tax incentives because, well, Washington was just not in the mood for it anymore! Now, how’s that for a reason for passing or not passing legislation: what your mood happens to be!

And, then, there were the posts (for some reason it seems, mostly posts and not newspaper articles? Maybe newspaper reporters are braver than bloggers????) that split it right down the middle. You know: On one hand, the government might do this; but on the other hand, the government might do that! Thank God for the web, without which we would be denied such insights.

I know some of you will probably miss these stories. For you–here’s something you will probably read just one last time now. Ready? The tax incentive offers first time home buyers an $8,000 credit and there is a $6,500 credit for current homeowners who want to move into another abode, so long as they resided at their current address for at least five years. Now, this next part we can all say together because it was the part that appeared in EVERY story no matter what the conclusion of that story happened to be. Come on, you know what it is. That’s right. THE DEADLINE FOR GETTING THE TAX BREAK IS THE 30TH OF APRIL, BUT THE DEAL HAS UNTIL THE END OF JUNE TO BE FINALIZED.

Jesus, I’m going to miss reading that paragraph.

Should I write it again? You know, just for old times’ sake! OK, I won’t.

For those of you with an addictive personality, don’t worry, there is a sort of replacement for the now deceased stories about whether the tax incentive will or won’t be coming to an end: That’s right, stories about whether the end of those tax incentives will mean the end of any real estate market comeback?

The great thing about that story is, there’s really no deadline. Hell, I can see reading a post a year from now still asking that very question.

About Author

Charles is currently reporting for KNX Radio in Los Angeles, is the co-author of the book No Time To Think, and can be found commenting about the news on his blog, The Feldman Blog, as well as on The Huffington Post.

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