Tuesday, February 17, 2009

$8,000 tax credit for California Home Buyers Puts Frown on the Clowns?

Realtors have got to be pissed. I mean paying dues to the NAR is just not paying off these days. $30 million dollars donated to political campaigns and all Realtors get is a lousy $8,000 tax credit?

Is this supposed to serve as the thousand watt jolt upon the asses of all of those "fence sitters" in Orange County, charging them to "get out there and be somebody" and buy a home?

Here's the bottom line:

The average listing price for a home in California is $633K. Take home incomes across the state simply do not support this pie-in-the-sky ridiculousness. The cotton candy mortgages are gone. There is nothing left. Most Californians are completely tapped out and do not have money. And even if they were smart, and do have money, they are certainly not going to dump it into homes that everyone with any common sense knows are still horrendously overpriced. The state of California, the world's 9th largest economy, has discovered itself to indeed be the awful financial train wreck it always knew it was. One for the record books.

$8,000 certainly isn't motivating my Lake Forest, California-based ass to do anything but hunker down, pull out a bowl of Orville Redenbacher popcorn, and observe the upcoming Alt-A mortgage loan disaster in Orange County California slowly unfold before our eyes!

Weeee! Bwahahahaha! It's circus time!

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