On a more professional note, I sometimes get asked about the effectivenesss of those federal and state tax credits. They were touted as the saving grace for the struggling real estate industry. Yet I always felt that, as well intentioned as they were, they were merely a short term band-aid solution. It certainly did not jumpstart the real estate market to recovery. It was a temporary device to artificially prop up the housing market.
Did they really think it was gonna be that easy to un-do all the subprime loans & predatory lending entrenched on Wall St?! Band-aids are for treating cuts and bruises.... not for herroraging amputated limbs!