real estate bailout

At the end of last year, both of my co-workers, team members, colleagues — whatever they’re called. I just know there are three of us in my area of the business and two of them bought houses last year (and got married in about six months time, which made me have small seizures, but, hey, whatevs) so they could qualify for that gigantic tax credit bonus or whatever it was. While the $8,000 (or whatever it was) credit sounded like an awesome little incentive, for me, it just meant I’d be responsible for that much more upkeep on a place and I’m not ready for that kind of commitment.

I sure can appreciate the whole Real Estate Bailout situation, if it’s going to eventually help the economy and fix jobs and all that jazz. However, I can’t help but start to wonder if it’s all some Ponzi scheme. (I don’t really think it’s a Ponzi scheme. I just like the word Ponzi.) Honestly, I suppose if I were in a financial situation where owning a home or this acreage for sale in Mission, BC seemed like a good idea (or I had more than just my charm and good lucks to put down for a down payment), now would be the time to do it and get in under the April 30th deadline for the credit.

I don’t really know what led me to this whole mortgage research/house purchasing information soap box, but I did find this video after reading a bunch of articles off sites like, it’s really helpful in it’s explanation (YouTube should not be for everyone to use, by the way…):

What's up?