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First-Time Homebuyers’ Tax Credit

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By Barry Ritholtz - March 18th, 2010, 2:44PM


Diana Olick found some interesting stats on the it offered:

* 1.76 million taxpayers have filed for this credit in 2008 and 2009
* $12.45 billion in credit has been claimed
* It appears as though the share of the homebuyer market consisting of first-time buyers topped out in November at almost 50%

For more on our thoughts on this government subsidy and how it is affecting the market, see our recent post “The Anatomy of a Housing Bottom“.

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Comments

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

3 Responses to “First-Time Homebuyers’ Tax Credit”

  1. Mark Wolfinger Says:
    March 18th, 2010 at 4:38 pm

    There’s no estimate of how many such claims are fraudulent.
    Half of them?

  2. viewwin Says:
    March 18th, 2010 at 8:24 pm

    Some friends of mine’s tax prep person said they could claim the housing credit twice.

  3. Hey You Says:
    March 19th, 2010 at 2:56 am

    Will we ever return to a time when economic ativity will be done for economic merits rather than government incentives?

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