Here’s a couple of quick takes on housing.
Reuters reports that the House has extended the deadline for collecting the homebuyer tax credit from June 30 to September 30. The Senate is expected to follow suit. Expect lots of contracts to be backdated. There doesn’t appear to be any way to kill this thing.
Don Marron published this graph today.
For the sake of those rushing to cash in on the tax credit, I hope that we aren’t on the way to repeating the Japanese experience.