Since when is the $8000 First Time Home Buyer Tax Credit about the Title Industry?
by Tom on October 9, 2009
in Market Musings
Okay, does this Mike Pryor guy realize what he just said? Let me explain:
- While talking to a House Committee about the tax credit, he said that it should be expanded so that we can “remove barriers to growth in the title industry.”
- So we’re, as a country, paying $43,000 per additional sale to support growth in the title industry? I know a lot of people in the title industry,but I’m not willing to spend $43,000 per additional sale so that the title industry can “grow?”
We are losing the moral and ethical fiber that our country was founded on and have turned into a bunch of money grubbing do nothings who want to get “bailed out.” That’s not the way it’s supposed to be and that’s not the way to long term financial health for our country.
Tom Vanderwell
Representatives of the real estate agent and land title industries testified in Congress that an extension of the $8,000 first-time homebuyer tax credit is the best tool for US housing markets to recover.American Land Title Association (ALTA) president Mike Pryor called for not only the extension of the deadline to the credit, but also an effort to remove the income restrictions and the requirement that buyers be a first-time home purchaser.
“Incentives like low interest rates and a limited, first-time homebuyer tax credit ensure that revenue and employment losses are not as bad as they could be. Congress should take simple, common sense steps to remove barriers to growth in the title industry and prevent additional barriers from being created,” Pryor told the House Small Business Committee.
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