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Stimulus package falls short on real estate

It seems to me that virtually everybody agrees, the economic crisis can not end without a rebound in real estate. The far reaching effects of a basic home purchase are immeasurable to the economy. a home owner buys paint, carpet, hires a handyman, an electrician, buys furniture, does landscaping and other repairs. The ripple effect is tremendous. The biggest bang for the buck is a major shot to the real estate industry. I was encouraged when they inserted a 10% (max. of $15,000) tax credit for any and all buyers, what a great stimulus. Now in the final version its only $8,000 and for 1st time buyers only. While this is very good, it jsut seems that the fastest way to invigorate the economy is through real estate and they missed the boat on an explosive opportunity. What doi you think?

Posted Tuesday Feb 17