That’s the amount the National Association of Home Builders thinks it will cost for each additional new sale generated by extending the Home Buyer’s Tax credit. They want to make it available to everybody except investors and vacation home buyers. They’re lobbying feverishly to do it!
According to this post in the Wall Street Journal, it will cost $30 billion to extend the credit they way they want for one year and spark an additional 383,000 home sales. Over $78,000 per sale! That sounds like such a good deal for taxpayers, I can’t imagine they will have any trouble selling it. The president of the NAHB feels more optimistic about this credit than he has about “any tax provision I’ve ever done.”
So, how do you feel about it? In the order of outrages, it comes below socialized medicine and cap & tax. But, it is much more expensive than cash for clunkers. It is criminal that the NAHB and National Association of Realtors think it is a good deal to burden themselves and their children with a $78,000+ bill for each $3,000 commission check they might receive.
