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Get your $8,000 HUD tax credit now

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posted on Jun, 1 2009 @ 04:50 AM
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This is amazing. Solid proof that history repeats itself when we do not choose to learn it.


NEW YORK (CNNMoney.com) -- First-time homebuyers will now have access to quick cash to help them with their down payments.

On Friday, the U.S. Department of Housing and Urban Development (HUD) announced that first-time homebuyers using FHA-approved lenders can now get an advance on the $8,000 tax credit created by the stimulus package and apply it toward their down payments or closing costs.


Is this not the type of thing that started the housing bubble in the first place? Come on people why would we choose once again to loan to people that cannot afford the house in the first place? If you are needing a 8,000 dollar break to afford your first house, you probably do not need to be buying one in the first place.

I am sure that the home sales that occur due to this lack of judgement will be used to spread false propaganda of a recovery. This is not only setting us up for another bubble, but also giving the current administration a way to make the economy look better than what it really is.

Link to Source CNN Money.




posted on Jun, 1 2009 @ 12:15 PM
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We cannot allow them to create a new housing bubble. This will create a false sense of security in an supposed growning economy. They keep lying to us giving us false economic data. Consumer confidence isn't rising but they tell us it is. We are being lied to.



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