Update on the Home Buyers Tax Credit

Well, it looks as though home buyers will not be getting the $15K tax credit that we had hoped for, although the final decision has not been made. As it stands now, we're looking at an $8K credit (up from the current $7,500), which -- I agree -- is better than nothing. There is a lot at stake in this spending bill.

Here's an excerpt from today's Wall Street Journal:

"Home buyers who hoped for a $15,000 tax credit to buy a new home, as promised by the Senate, will be disappointed. A proposed $35 billion credit to support home sales was jettisoned in favor of a more modest $2 billion to $3 billion provision."

Even this $8K amount is still being negotiated in Washington, so that may change, as well.

Let's hope for the best.