Coming Soon to a Bailout Plan Near You
Lawrence Yun, the discredited but still vocal mouthpiece for the National Association of Realtors, demands that congress provide yet more market-warping tax-giveaways so that he and his audience of six-percenters at the NAR can get their commission checks.
Given the amount of time, energy, and moolah the NAR spends pushing around insecure politicians, I think it would be unwise to assume that this latest bailout request won't be coming out soon.
"Although some market adjustments are necessary, a downward overshooting of the housing market would cause unnecessary loss in economic output, income and jobs," Yun said. "It is critical to stimulate housing demand by inducing fence sitters back into the market. A home buyer tax credit on any home purchase would accomplish that."