Home Front

A blog about the economy and the Sacramento-area real estate market.

March 16, 2008
Government handout coming your way

Sunday musings: The check that the housing crisis wrought may not be in the mail, but the letter saying it will be has arrived. We got one from the IRS yesterday, bright red letters in a headline saying: Economic Stimulus Payment Notice. Dear Taxpayer: We are sending this notice to let you know that based on the new law the IRS will begin sending the one-time payments starting in May.
To paraphrase a speech of former President John F. Kennedy: what you can do for your country is to spend every dime.

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Reading the weekend papers it is obvious that some home builders are taking a new advertising approach to the housing slump. K. Hovnanian Homes, the big New Jersey builder, says there is Blood In The Streets. And, according to the late oil baron John D. Rockefeller, that is always the time to buy.
Hometown builder JTS Communities is advertising what it calls foreclosure pricing. That comes after a couple of months of auction pricing. A couple of weeks ago Reno condo builders Pacific West Cos. ran ads saying flat out that the market stinks- and here is why you should buy one of our condos.
Sacramento is a capital town where it is easy to take lessons from politics: when it gets tough out there try going negative. It often works.

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