Housing Market Tax Tricks
Regarding Housing Market Tax Tricks: Tax tricks? The government is trying to encourage people to get into the housing market again by offering tax credits to new home buyers. In some ways, this makes sense to me. People who own homes are in many respects valuable to the government - they spend money on household goods, home maintenance, and home improvement.
But it's a bit of a case of "buyer beware" because the market is so shaky right now. Of course, part of the reason it's shaky is that its shakiness is so well-known. The government cares more about shoring up this faltering industry than it cares about each individual.
In many cases, renters have been saving money to purchase their first home. The government is trying to entice, even trick, these people into pouring these savings into the market, and into a failing sector of it, in order to boost the economy.
I think this is one of the nastier schemes the government's come up with in a while now. It's a thinly veiled attempt to help corporate America at the expense of individual citizens.
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