[Jedidah]

Let’s see what happens to housing sales after the tax credit expires on Friday.

[Kansas58]

I moved from a house to an apartment years ago.
Last year, this $8K credit, and the low price of a nice house, convinced me to jump.
NOW?
The IRS wants to fight with me over the credit!
I will win, eventually, but-— what a pain!

[brothers4thID]

Exactly

[Timocrat]

Let’s see what happens to housing sales after the tax credit expires on Friday

My prediction is that May and June will be disasters. Anybody who was going to buy a house under $400,000 in the next 6 months has got a contract on a house by now.

The banks have a massive shadow inventory of homes on which the mortgage is delinquent. They are holding off on the foreclosures because they do not want to crater the market and because they do not have the staff to handle the volume.

[sportutegrl]

Let’s see what happens to housing sales after the tax credit expires on Friday.

I predict that the May data on home sales will show an 'unexpected' decline.