f you are hearing a bit of criticism about the first time home buyer part of the new stimulus package, it's only because of Obama's secondary reason for implementing it. Really, with all of its benefits for the individuals and families involved, it's a great program to be involved with. They receive help with the down payment, they have a reduced interest rate on their mortgage, and they also get a tax break.
These are amazing benefits for those just starting out in the world with a new home. There are of course other benefits as long as more people are taking part in this feature of the stimulus package, and that is the reason why it's a part of it. The hope that the government has is the same as all of the other programs that are now available ? to revive the economy little by little until it is back to normal.
The housing market is one part of the economy that was dramatically staggered by the crisis. Obama needs the population to be interested in investing money in it again. There are people out there that want to buy homes, but need a little nudge in the right direction. The more families that they convince to take advantage of this program, the better it is for America. This is because the increased number of homes bought will also put extra funds into the unstable economy, thus stabilizing it a little bit more.
True there are always other motives for such things, but if it benefits the people then why not use them.
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