So here’s our lesson for today: If the government temporarily offers an extraordinary tax credit for buying a house, some people who were thinking of buying a home in the future will do so sooner and the market will be goosed. When the tax credit ends, sales will fall back into the doldrums.
Imagine that.
Sheldon Richman is the former editor of The Freeman and TheFreemanOnline.org, and a contributor to The Concise Encyclopedia of Economics. He is the author of Separating School and State: How to Liberate America's Families.
The Arena is a monthly debate feature designed to help readers explore issues of concern to classical liberals/libertarians.
This month, the issue is Gay Marriage. The proposition is: Gay Marriage Expands Liberty. Richard Lorenc will be arguing for the proposition. Steve Esposito will be arguing against the proposition.
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