Why the Tax Credit is Not a Good Thing for Real Estate.

Yes, it has been passed by the House, Senate, and just signed by the President. The NAR backed it and many Realtors favor it....I do not. The housing tax credit reminds me of the rebates that car dealers used to sell cars. Look what that did for Detroit. When a market is in a slump that is ok. Let it rebound on its own. The tax credit is NOT stimulating the economy or helping the market rebound. It certainly is not stemming the number of foreclosures. Isn't that what we were really trying to do in the beginning of the real estate calamity? Help people KEEP their homes. I believe we have lost sight of our initial objective. Washington cannot fix this problem by throwing money at it. They need to make sure people who want to buy houses have access to a good mortgage and not intimidated by the process.