Governor Arnold Schwarzenegger signed into law today a renewal of the $10,000 home buyer tax credit for first time buyers of existing homes and extended the law including any buyer of newly constructed homes. The home builder lobby and the California Association of Realtors predictably hailed the move. California’s New Home Buyer Tax Credit The [...]

Yesterday the Senate added a housing tax credit to the President’s recovery bill that gives home buyers a 10% of purchase price tax credit up to a maximum of $15,000, ostensibly to support the housing and mortgage markets. I see this $19 Billion dollar addition to Obama’s Bill as more “quid pro quo” for the [...]