Homebuyer Tax Credit
by sachin on November 5, 2009
Congress set to expand homebuyer tax credit .. It gives the people about $6000 to $8000 of extra money. Project to cost 10.4 Billion dollars.
Real Estate Home Appreciation – Last 12 Months – about $175000(Approximate assumption). [uspricemon.pdf]
U.S. mortgage applications up as rates drop below 5 percent .. About 4.97%; So you have a discount of 6000/175000 (3.4%) for a year. This costs about 10.4 billion dollars.
Total Bailout Cost Heads Towards $5 TRILLION .. in Oct 2008.
The estimated population of the United States is 307,232,546
so each citizen’s share of this debt is $39,012.32.
The National Debt has continued to increase an average of
$3.87 billion per day since September 28, 2007!
Per Capita Income – 40,208 (2008 figure) + 6000 Tax credit. [us-pci.xls]
Another nail in the coffin?
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