Do Expiring Tax Incentives Mean The Housing Market Recovery Is Over?

, homebuyer tax creditsFor those who don’t know, under the Housing and Economic Recovery act signed by President Obama in 2009, many first-time borrowers were eligible for $8,000 homebuyer tax credits if they signed contracts by April 30 on a new property (the amount was $6,500 for home owners buying a new residence. ) It’s estimated that about 3 million people took advantage of the homebuyer tax credits nationwide, until  last Friday, when the program expired. So now that these credits are no longer an option, does this mean the party is over for housing market recovery?

Last week Reuters published an excellent article that looks at how much of the housing market recovery process is actually tied to these incentives. They cited a recent study by Prudential that suggests mortgage rates, rather than the one-off homebuyer tax credits, will be the deciding factor for many potential buyers.  While those who have been watching the credit crunch and the continued holding of unemployment at 10% might find this less than comforting, most Americans seem optimistic about the housing market’s recovery. “Most consumers believe the market has hit bottom and are more optimistic about the future,” said James Mallozzi, chairman and chief executive officer of Prudential Real Estate and Relocation Services.  And where consumer confidence goes, we can expect to see at least some more housing dollars follow.

The Joshua Just Blog is written by Joshua Just, CEO and Founder of Diversified Investments. An experienced leader in the market place, Joshua Just has founded several successful firms in the areas of real estate, aviation, litigation & financial management.

6,567 Responses to “Do Expiring Tax Incentives Mean The Housing Market Recovery Is Over?”

  1. MDF Atacado…

    Atacado MDF, MDF no Atacado, MDF em Atacado…

  2. Sites of interest…

    I saw this really great post today….

  3. debt relief says:

    Sites we Like……

    […] Every once in a while we choose blogs that we read. Listed below are the latest sites that we choose […]……

  4. Sites we Like……

    […] Every once in a while we choose blogs that we read. Listed below are the latest sites that we choose […]……

  5. Sites of interest…

    Here’s some related news….

  6. Anonymous says:

    I became looking at on the internet for a lot of information because the other day night time and that i at long last observed a few things i wanted! This is a wonderful blog site by the way, however it looks a little difficult to notice in my google…

    I became looking at on the internet for a lot of information because the other day night time and that i at long last observed a few things i wanted! This is a wonderful blog site by the way, however it looks a little difficult to notice in my google a…

  7. brian ofsie says:

    Read was interesting, stay in touch……

    […]please visit the sites we follow, including this one, as it represents our picks from the web[…]……

  8. internet says:

    The best website………

    […]here are some links to sites that we link to because we think they are worth visiting[…]………

  9. Sources…

    […]check below, are some totally unrelated websites to ours, however, they are most trustworthy sources that we use[…]……

  10. 2011…

    Excellent website. Lots of useful information here. I am sending it to some friends ans also sharing in delicious. And certainly, thanks for your sweat!…

  11. Hello…

    I like this weblog so a lot, saved to my bookmarks ….

  12. peter larsson…

    […]e What cache product do you use for this website? It loads so much faster tha 8u[…]…

  13. Greate…post…

    I discovered your weblog site on google and check a number of of your early posts. Continue to keep up the excellent operate. I just extra up your RSS feed to my MSN Information Reader. Looking for forward to studying extra from you afterward!……

  14. pinteresting says:

    […]The information mentioned in the article are some of the best available […]……

    […]below you’ll find the link to some sites that we think you should visit[…]……

  15. Striking A Balance in SEO Writing…

    […] There is a balance that SEO article writers have to strike in order to get the best results from their efforts. One the one hand, their articles must be short and sweet. They have to keep it on topic and provide a great deal of information in a r…

  16. If you look closely, you will see that some interest rates on cash advances can be as high as thirty percent…

    […]You will be authorizing the lender to claim the loan amount together with the costs directly from your checking account as soon as the pay check arrives[…]…

  17. Another Title…

    I saw this really good post today….