Home Building Drops Amid Tax Incentives Expiration

Did anybody expect anything less? In these circumstances (a rough, unstable economy), incentives need to stay in place – ideally – until the natural economy picks up. However, to be safe, the incentives most likely should stay in place until it’s obvious that the economy is rocking and rolling again.

WASHINGTON (Reuters) – Housing starts fell to a five-month low in May but industrial output rose, evidence of an uneven recovery that has kept inflation at a minimum.

As the government’s tax incentives for homebuyers expired, new home building dropped 10 percent to a seasonally adjusted annual rate of 593,000 units, the lowest level since December, the Commerce Department said on Wednesday.

Home building plH – Yahoo! Finance

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Sokak trendleri - June 22, 2010 Reply

I agree with that. Incentives must stay for a while.

billspaced - June 22, 2010 Reply

I don’t remember who said it or the exact quote but it goes something like this – the Fed’s job (I think it applies to any government program/incentive) is to spike the punchbowl at the beginning of the party and remove said punch bowl when the party gets rolling. Something like that.

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