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So as of last Friday, the home buyer tax credit can rest in peace. I never got the feeling that it ever really took off like we expected. I had some clients that took advantage of the $8,000 credit to provide or beef up down payments, but I think they would have purchased a new home anyway. The credit just helped them along. That means that in many cases, all we did was spend tax dollars for a non-stimulus, which is typical of government intervention. Now that we have a largely unpopular healthcare reform bill in place, we are moving on to “financial reform”. It seems to be a popular notion that we need to hack up the rules regarding lending practices so the “fat cats” don’t rip us off again. At the risk of taking an unpopular position on this, I disagree. (more…)