Homebuilders looking for government help, too
Seems that everyone is looking for help from the U.S. government these days. Add homebuilders to the list of those seeking a little financial pick-me-up.
According to a Sept. 29 story by Bloomberg News, which you can read here, officials with the National Association of Home Builders are asking members of Congress to pass a $15,000 tax credit for all homebuyers. This, officials with the trade association hope, will entice consumers to purchase homes.
The builders association says that homebuilders have seen at least $19 billion in losses since 2006.
Now, that is a lot of losses. But I don’t remember the homebuilders association proposing that their members give any of their profits back during the housing boom that ran from about 2001 through 2006. And last time I checked, most homebuilders were advocates of the free market when their profits were soaring as home prices skyrocketed during the boom times. But now that their profits have fallen, they want the government to step in.
I feel the same way about the proposed federal bailout. Where have the rabid free-market fans gone?
Tags: housing sales, national-association-of-home-builders, real-estate-slumpRelated Stories
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