Mother Jones: Is Congress Creating Another Housing Bubble?
Though the deeply divided Congress can’t seem to agree on much these days, the House and the Senate did manage to come together this week, with nearly unanimous votes, to extend an $8,000 first-time homebuyer tax credit. But among economists of various political persuasions there’s widespread agreement on the Obama-backed bill: it’s horrible policy that could wind up prolonging, if not worsening, the housing crisis. [more...]