First time homebuyer credit to rise to $15000???

Apparently Congress is  considering expanding and extending the $8000 first time home buyers credit to $15000.  This time it would apply to all homebuyers.  $15000 still isn’t going to go very far here in San Mateo since the latest Dataquick numbers shows that the San Mateo’s median price is still $550,000.  However, in other states where the median home price is under $100k this would be a huge credit.  I really do not understand why this particular government is so obsessed with propping up home prices.  Does buying a home really produce so much for the economy?  As far as I can see renters have furniture, electronics, and cars, too.  What do you think?  Would you buy a home if you are guaranteed $15,000?

June 24, 2009 | Filed Under All Cities, News 

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