Some might claim that concern over the $8,000 housing tax credit is to blame. Well even if so, what exactly does that say about the recovery when government has to give away money to home buyers?Haven't we been doing this for decades via the home mortgage interest subsidy? Paying people in California, New Jersey and Connecticut tens of billions of dollars each year in order to buy grossly overpriced houses?
Thursday, November 19, 2009
Welfare for stupid people to go buy houses
Regarding last months "surprising" drop in housing starts, Mish asks:
Posted by Lou Minatti at 6:33 PM