| In hopes of supporting home sales across the nation, | | | | buyers are struggling to sell their own homes so that |
| the federal government extended their home buyer's | | | | they can take advantage of low interest rates, |
| tax credit program last fall to last until April 30th; and | | | | depressed prices, and an excess of available |
| while the government would like to see their tax credit | | | | inventory. As a result, many of the people who are |
| programs helping to support the incidence of home | | | | buying homes currently are first time buyers; they don't |
| sales, in many areas it is evident that this trend is just | | | | have homes that need to be sold to be able to finance |
| not coming to fruition. | | | | a home purchase, after all. Unfortunately, the numbers |
| There are many factors that are keeping the rate of | | | | of people who can afford to buy their first home aren't |
| home sales down that can't be completely offset just | | | | high enough to support the market in a big way. |
| by the offering of the home buyers' tax credit. Across | | | | Experts say that one of the biggest factors in many |
| the nation, unemployment rates are still sitting at very | | | | areas across the nation is the lack of consumer |
| high levels, while many people who are working are | | | | confidence; unfortunately, confidence in the market isn't |
| sadly under employed and making less money than | | | | something that can be bought with a tax credit or |
| they were when the recession first hit. It is reasonable | | | | even with lower interest rates. For the return of |
| to assume that even if the government promises to | | | | consumer confidence, only time will tell what works; it |
| give you a tax break for buying a home in this | | | | does not seem that government spending is helping to |
| economic climate, you have to be reasonably | | | | return this confidence to the nation. Whether or not the |
| unscathed by the current recession to actually be able | | | | weeks preceding the cut off date of April 30th will see |
| to take them up on that offer. | | | | an increase in home buying or not, as we saw in the |
| Many current home owners who are actually in a | | | | weeks before the original November 30th cut off date |
| position to take advantage of the program and would | | | | for the tax credit. |
| like to take advantage of the tax credit for home | | | | |