Oregonians split on home tax credit

As Congress gives out another $11 billion in home buyer tax credits, Oregonians weigh in on the pros and cons.

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Many see Congress’ $11 billion boost in home buyer tax credits as a way to help Oregon’s housing market, but others consider the improvement temporary.

Mark McMullen, a Moody’s Economy.com director, said Oregon’s modest turnaround in the housing market “could almost entirely be attributed to the credit.”

But other economists say the tax credit is creating a false bubble, moving sales that would have occurred anyway in 2010 into 2009. They say that means the program isn’t costing the government $8,000 per buyer, but $40,000 or more if the measure is buyers who otherwise would not have made a purchase.

Read the full story at OregonLive.com.

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