Your Last Chance for the Homebuyer Tax Creditby Tim Manni
The clock is ticking: There are only hours left to sign your contracts in order to take advantage of the homebuyer tax credit.
We want to know if there are any last-minute shoppers out there — is anyone trying to get their contract signed today?
While there’s about zero chance any announcement about another extension of the homebuyer tax credit will be made before midnight tonight, the chances of any announcement claiming another extension (at any point) seems to be getting less and less.
We reported on April 14 that three lawmakers who previously advocated for the homebuyer tax credit had no plans to push for another extension.
Last week, our friend Nick Timiraos of the Wall Street Journal wrote that even those in the industry who would stand to benefit the most from the homebuyer tax credit, and who had previously advocated very publically for the original credit and the first extension, had no plans of pushing for another extension:
But industry groups now say that the tax credit has run its course. “It’s time for the housing market to stand on its own two feet,” says a spokesman for the National Association of Realtors. A spokesman for the National Association of Home Builders says the group isn’t “actively asking for an extension at this time.”
Well, one thing’s for sure, readers of this blog have spoken clearly on how they feel about a second extension of the homebuyer tax credit: