I was on the fence for a while as to whether Congress would extend the $8000 first time home buyer tax creditand whether the Administration would stand behind that, but I'm getting some clues that have pushed me over the side.
I think it may happen.
I've been asking Administration types for weeks now, one "on background" who said, "There are a lot of ideas out there for what to do with the extension of the home buyer credit and other credits, and those issues are not yet finalized from our perspective internally." So yes, he punted it.
I asked FHA commissioner David Stevens in an interview. He said, "We're looking at the first time home buyer tax credit. It's had an impact. It's being measured. The administration will come out with a recommendation and their position on where we stand on the tax credit. We'll support that position." Same kick.
An industry insider I know who went to a meeting with Treasury types this week said she came away feeling like "it was going to happen."
But yesterday Maria Bartiromo did an interview with Treasury Secretary Geithner, and while he didn't come right out and endorse an extension, he didn't punt it either; in fact, he hinted it would happen: