The $100 million in tax-credit money is holding up OK. If every applicant got the full $10,000, we’re about a quarter of the way done, after nine business days:
Applications for First-Time Buyer Credit received as of 5/13/2010:
| As Of | # of Applications | 57% of the Estimated Credit Request |
| 5/4/2010 | ||
| 5/13/2010 |
I’m surprised these figures aren’t even higher. Might be delays in processing. Such a stupid tax credit.
This tax credit plan is an interesting choice in light of Schwarzenegger’s austere budget plan announcement today.
this sounds about right to me. I expect the rate to increase by quite a bit over the next 10 business days.
Further to Sol’s comment, I can’t believe that this tax credit has gotten more heat in light of all the other budget cuts. It makes me sick.
Hey Jim, I don’t understand the 57%. If only 57% of the credit is being deducted from the $100 million fund, who is paying the other 43%?