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 lonestar2004
Live to party,work to affordit.
Registered: 10/03/04
Posts: 6,724
Loc: South Texas
Last seen: 14 hours, 43 minutes
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 Congress Considers $15,000 Rebate Checks For All Home Buyers
#8141265 - 03/13/08 12:18 PM (8 months, 18 days ago) |
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Sen Johnny Isakson Says Checks Would Entice People To Buy
WASHINGTON -- He would know.
As a longtime realtor in Cobb County, Sen. Johnny Isakson has seen housing downturns before. "We had recessions in 1968, 1974, 1982, and 1991, by every measurement, this is going to be a deeper and bigger recession in residential housing. It's a significant event."
Isakson is pitching an idea to his colleagues in Congress: a $15,000 tax rebate check to anyone who agrees to buy a home. Congressional budget analysts project the program would cost $14 billion over the next few years. But Isakson said the rebate checks are well worth the hefty price tag. "If we can convince buyers to come back to the marketplace and buy these houses, then the houses aren't vacant. It's replaced by an owner-occupant, who is there making payments on a loan and helping all of the other houses around."
Senate Republican leaders have signed on to the rebate check idea. But they have to corral support from Democrats. Senate Democratic leader Harry Reid is instead pushing a foreclosure relief proposal called The Foreclosure Prevention Act of 2008, which would offer $4 billion to cities to rehab or knock down foreclosed properties. Reid's Democratic colleague Sen. Bob Casey said, "It's important that we have as much money as possible in the hands of local communities, to get it into communities, where they know how to spend those dollars and help families through this crisis."
Figures compiled for wsbtv.com by mortgage analysts with RealtyTrac show a surge in Atlanta-area foreclosures. In 2006, RealtyTrac reported 33,018 foreclosure filings in the Atlanta region. In 2007, 50,271 people were foreclosed upon.
The Senate is expected to debate both competing foreclosure proposals. Presidential candidates have also publicly announced proposals to ease the housing crisis. Sen. Hillary Clinton has proposed a temporary freeze on all home foreclosures.
http://www.wsbtv.com/news/15575616/detail.html
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 automan
blasted chipmunk
Registered: 09/18/03
Posts: 4,558
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Re: Congress Considers $15,000 Rebate Checks For All Home Buyers [Re: lonestar2004]
#8141315 - 03/13/08 12:34 PM (8 months, 18 days ago) |
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if they can afford to give out $15,000 rebates, then a ton of people were overtaxed by $15,000.
the time of america has ended. we are in china's century now.
all that said, if they are offering it, i would take it.
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wiccan you need a big glass of shut the fuck up ~ Stein
No, no, you're not thinking, you're just being logical. ~ Niels Bohr
I wish my lawn was emo, cuz then it would cut itself ~ paraphrased by coda
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Lana
Head Banana
Registered: 10/27/99
Posts: 2,579
Loc: www.MycoSupply.com
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Re: Congress Considers $15,000 Rebate Checks For All Home Buyers [Re: automan]
#8141426 - 03/13/08 01:06 PM (8 months, 18 days ago) |
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Yeah, most people think that these "Rebate checks" are a good thing.
Most people don't understand that the government is a non-producing entity. Millions of people work for the government but they don't produce a tangible product.
In other words, these "rebate" checks are simply tax payers hard earned incomes. And like Automan said, if there is money to "hand out" then WE THE PEOPLE have been over taxed.
And yes, China is the next super power so I hope you all like steam buns as much as I do 
Lana
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Myco Supply - Distributors of Mycological Products
http://www.MycoSupply.com
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Visit us online or call us toll free
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lonestar2004
Live to party,work to affordit.
Registered: 10/03/04
Posts: 6,724
Loc: South Texas
Last seen: 14 hours, 43 minutes
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Re: Congress Considers $15,000 Rebate Checks For All Home Buyers [Re: automan]
#8141434 - 03/13/08 01:10 PM (8 months, 18 days ago) |
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I wonder if this rebate could be used for a summer vacation home?
that would be cool.
Edited by lonestar2004 (03/13/08 01:26 PM)
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