Monday, March 1, 2010
According to the housing experts, the $6,500 move-up tax credit is not considerable enough to have an impact on the housing crisis.
Based on a poll by Campbell Communications and Inside Mortgage Finance involving 1,500 real estate agents, the percentage of current home owners who are considering buying had remained unchanged from January which is traditionally a slow month, to February, where business is usually better.
Roberton Williams, senior fellow at the Tax Policy Center in Washington said that the problem is really big and requires big guns to solve it. The tax credit is not big enough, he added. According to Patrick Newport, an economist with IHS Global Insight the credit has been hardly registering on the economic Richter scale.



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