Who said it won't stimulate?
SolarWorld
Posts: 1,902
Just found out that the $8,000 tax credit for new home buyers is refundable. Also found out you can claim it on your '08 return. I close in a week. $8,000 is going to stimulate me just fine, thank you Obama!
Now I really can't wait until the tour!
Now I really can't wait until the tour!
Post edited by Unknown User on
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(just giving you a hard time...I've done the same in the past)
Nice to see that there are some benefits for the little guys.
was like a picture
of a sunny day
“We can complain because rose bushes have thorns, or rejoice because thorn bushes have roses.”
― Abraham Lincoln
I kinda agree with mr.garrett up there ^^^maybe not the 'ever' part, but...
I'm leary of debt right now, period.
I had a friend tell me he was going to go buy a new truck the other day...
conversation went like this:
'I'm gettin a new truck....have you seen what they're selling for these days?'
'I'd be careful takin on a lot of debt right now, man'
'but I can get a kick ass diesel, brand new for the same price I paid for this POS; my payments won't even change'
'ya, but....you might not have a job a year from now, do you not even watch the news? (cue rant
'you know what man? I don't even pay attention to that shit, there's nothing I can do to prevent it'
'But you can protect yourself by NOT buying a new truck'
:roll:
(total microcosm of our fuckdom...past and present)
anyway....good luck with the house and congrats
This is incorrect...
It WAS a loan that maxed out at $7500, it is now a refundable tax credit up to $8,000 which is part of the new stim. Know what you are talking about before you open your mouth, just saying.
And as far as not a good time buying a house? Wrong again. Rates have fallen to the lowest levels since they started keeping track. Just had our deal re-adjusted yesterday, I've got the down and and the score to take advantage of it. Throwing rent away every month? No thanks. Done with that. Dont plan on moving any time soon. We may end up in this house for 10+ years. OK by me. Did I mention my house payment will be less than what Im currently paying in rent? Did you know a portion of your payment and your property taxes are tax deductable? Problably not. In my case, I am going to have more money in my pocket being a home owner vs. throwing money away renting. And thanks to Obama I'll have an extra 8 grand to do with how I please.
So Drowned Out, the stim does help the little guy.
Yeah dont take advantage of the house prices and low rates, keep throwing money away renting. Great advice. :roll:
Sorry Mr. Smarty Pants... Everything that I read was that it was just an increase on the current $7500 credit. But then again I was concentrating on the old info because we bought our house in Oct '08.
Now I'm pissed that if we would have waited 2 months to buy a house, we would have gotten $8,000 in free money... This stimulus packaged ain't stimulating shit for me besides that stupid $15 b-weekly increase.
edit - And as far as buying/not buying now, it's a GREAT time to buy a house... Obviously if you work in an industry/company where layoffs have happened (or could happen), then yeah, taking on debt doesn't make a lot of sense, but if you are comfortable in your job/field, buying now makes sense.
was like a picture
of a sunny day
“We can complain because rose bushes have thorns, or rejoice because thorn bushes have roses.”
― Abraham Lincoln
so what do I get? I bought mine 4 years ago.
www.seanbrady.net
Great idea... we can spend billions of dollars rounding illegals up and deporting them, then either convince the american unemployed people to take jobs paying below minimum wage (vs making more on welfare), or raise the wages and have either thousands of companies go under or raise their prices on just about everything which would affect all of us and tank the economy even more.
was like a picture
of a sunny day
“We can complain because rose bushes have thorns, or rejoice because thorn bushes have roses.”
― Abraham Lincoln
its a great time to buy a house OUTRIGHT,
or to buy it on LOW margin (meaning, say only a 20-50% mortgage, with 50-80% equity)
and RENT IT OUT.
The rental market is actually primed for take off.
A disproportionatly large percentage of foreclosures ARE AMONG RENTAL PROPERTIES
(collapsing home values have forced landlords in to foreclosure by the hundreds of thousands)
and MIDDLE TO LOW INCOME RENTERS ARE FINDING THEMSELVES OUT ON THE STREETS IN DROVES.
Now would be an absolutely STUPID time to buy a house on a full (80% +) mortage, or to be buying based on some errant theory of price appreciation.
The housing market COULD TAKE A BLOW OF AROUND ANOTHER 15% to 30% EASY, and possibly more, depending on just how fucked things get.
Now would also be a GREAT time to RENT WITHOUT A LEASE, if you can find the place,
and to just sit and wait for that conflux of events that participates a further collapse of the housing market in order to REALLY scoop the bottom, and not get caught on the cusp of the second leg down.
If I opened it now would you not understand?
Admin
Social awareness does not equal political activism!
5/23/2011- An utter embarrassment... ticketing failures too many to list.
You know what is stupid? Listening to some loony toon on a message board for your investment advice.
Wasn't supposed to do shit for the stock markets. You wont see any sense of stability in them until the banks are dealt with. Even then we could see DOW 1,000. It's possible.
Cool. A few questions for you:
What are the income restrictions (if any)?
Do you have to close on your house first and then file for taxes, or can you file first and buy the house within a few months?
Just stop paying your mortgage, get one step away from foreclosure, then call Acorn and tell them you were too stupid to understand the cost asociated with buying a house and maybe they will try to help you out.
Fairly generous, you are going to want to double check though. I'm pretty sure it's 75gs for a single person and 150gs for a married couple.
If you have already filed and want to get the money this year you can file an amendment to your already filed taxes. They are allowing you to put Dec. 31st on the purchase date. I'm guessing until the April(?) deadline to file.
were already spending billions of dollars on them any way.just look at California their almost bankrupt becuase of illegal immagration and what American is gonna take a job making less than minimum wage
Thank you. Judging by your username, are you a fan of Zeitgeist Addendum?