Professor Kurt Eggert was quoted in a story in the Inland Valley Daily Bulletin about the slow down in homebuilding, “State homebuilders association warns of ‘homebuilding depression.’” In the story, he stated, “The other question is: How many people receiving that (proposed homebuyer tax) credit would’ve been purchasing homes anyway?” Professor Eggert says the problem with home-buyer tax credits is they doesn’t do anything to stop homeowners from going into foreclosure, which is a greater nemesis than slow home sales. “I think there’s a lot more bang for the buck by using stimulus money toward problem loans directly,” he said. “(A home-buyer tax credit) doesn’t solve the real problem.” Read article…