The first time buyers credit might have helped sell a few homes in a down period, But, did it really help the economy in the long run, and did it really help those it was intended to help?
You can argue about the effectiveness of the $8,000 tax credit last year and whether it actually helped you sell homes. The point is that the IRS discloses now that the program cost all of us over one-half billion dollars in fraud. Why the IRS honored the fraudulent claims and paid out the money is unclear.
The IRS says that about one-third of a million dollars ($326 million) went to people who weren't first-time homebuyers.
The rest of the money went to people in prison (Florida lead the nation here), people under 18, and people who never bought a home.
When the government puts out a really nice carrot, there are people who just can't help taking a bite.
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Steve Hoffacker - Consultant, Coach, Author, Blogger, Photographer, Motivator, Teacher, & Strategist - for Realtors, Real Estate Sales Professionals, Home Builders, New Home Salespeople, Entrepreneurs, Small Business Owners, and Independent Sales Representatives.
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