CNBC just posted a story on what they think might happen to the $8,000 First Time Home Buyer Tax Credit: an extension through 2010 with a phased reduction of $2000 per calendar quater of 2010.
While I’m not always on board with what Diana Olick has to say and I have no way to know if this plan is serious or not, the structure of the plan appears to be a reasonable compromise and I think would score political points for everyone who supports it. It’s a soft-landing type of compromise and incentivizes consumers to buy sooner than later.
Only time will tell but it sounds like we might have an answer on this in the next week or so. I think that this is the plan that will end up passing.
[...] this is quite different than the proposal that was floating around just a few days ago, by expiring the program at the end of July and the lower amount offered to repeat buyers, it is [...]