The debate has been whether the Federal Tax incentive was effective or not.
Let's look at some numbers. First Time Home Buyers who were eligible for the tax credit purchased 44% of all homes in March 2010, pushing up total home sales by 6.8%. 44% of all purchases! I think that is a very strong argument that the program was effective. I'm sure we will learn more as we get the numbers for April, when the program ends.
http://www.dsnews.com/articles/existing-home-sales-jump-68-in-march-2010-04-22
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