Jan 17 2008 11:15AM | Permalink | Email this | Comments (1) |
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Here we go again ...

Another month, another bad set of housing stats. Starts and permits were down again in December, according to information released today. That, along with other financial news over the last few days, is prompting more calls for some sort of economic stimulant package from the federal government. 

It sounds like the package would include a one-time rebate to taxpayers -- $600 seems to be a number a lot of folks are talking about -- along with various tax cuts and other possible solutions. There doesn't seem to be much discussion of any moves to address housing, which is the biggest factor in what's going on right now. Instead, it seems the plan is to give us all some money and hope we go out and spend like drunken sailors. Considering the savings rate in this country, that's probably a good bet.

Unfortunately, a one-time check isn't going to make a big impact for most people. It's not like it's enough to make up for a reset mortgage rate or stave off foreclosure. Don't get me wrong -- I'll take the check. I just wish someone had a better idea than what I fear is throwing good money after bad.