The federal homebuyer tax credit shifted demand in the U.S. housing market without having a lasting impact on prices, according to Douglas Duncan, chief economist of Fannie Mae, the largest mortgage financier.
“Temporary tax credits change behavior temporarily,” Duncan said today at a National Association of Real Estate Editors conference in Austin, Texas. “It’s simply shifted demand forward.
Fannie Mae’s Duncan Says Homebuyer Tax Credit Shifted Demand - BusinessWeek
AWESOME. So taxpayers paid tens of billions of dollars to people who would have bought houses in 2010 anyway but bought them a few months earlier. So glad to hear my money was well-spent.
Source: businessweek.com
