More Artificially Inflated Home Values, More Record Extentions of Entitlements
November 6th, 2009 by 
Mitchell Blatt
If we’re in the midst of an economic crisis caused largely by artificially inflated home values, our Congress thinks the solution is to continue artificially inflating home values.
They just extended (again) a tax credit that pays people $8,000 to buy a house. You even get $6,500 if you already own a house and want to buy a new one.
Don’t think you qualify? If you earn up to $125,000 as an individual or $225,000 as a couple, you can take advantage of this giveaway. Sorry, millionaires, this is only for poor people.
Economists say that most people who are taking the government’s money for their home purchases would have purchased anyway, so at least it’s increasing sales.
But since we are in the midst of an economic recovery, we won’t need to keep helping people with entitlements much longer, will we? Well, no, it’s a jobless recovery, so Congress also extended unemployment (again) for the longest time evah.
I guess the recovery ends when the government stops spending money.
Back to Houses:
The government is also making sure people can afford their houses. Or, rather, making sure the government can afford their houses.
From our friends at Fannie Mae, who also helped people afford houses previously, by artificially increasing demand and thus increasing prices:
Fannie Mae, the federally controlled mortgage company, announced a Deed for Lease program in which those in danger of eviction may be able to stay as tenants in their houses for at least a year.
Like I said, the recovery ends when the government stops spending money.
