RGJ: Real Estate: Homebuyer credit causes drop in sales


This article at the RGJ suggests that the end of the homebuyer tax credit caused a drop in home sales.

The end of the federal homebuyer tax credit left its mark on Washoe County’s housing market in July, as sales of existing homes saw double-digit decreases.

I would argue that the drop was happening anyhow, and the government meddling in the market place merely shifted when it occurred and by how much.  The tax credit increased prices when it was first instituted and now the prices and sales activity are both lower than if the tax credit had never happened.

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About rereno

Real estate investor
This entry was posted in Economy, Government, Real Estate and tagged , , , . Bookmark the permalink.

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