The $15,000 tease
All week on Building Blocks we were up and down about the $15,000 home buyer tax credit that was stuffed into the big stimulus package, then cut out of the final bill. But maybe in the end St. Louis will benefit anyway. Another prominent real estate blogger pointed out that the $8,000 credit for first-time buyers will go a lot further in low-cost markets like ours than in high-cost places like California, where prices have plunged payday loan companies. Of course, $15,000 would go farther, too. But it was a nice idea while it lasted.