Buyers on Fire -- For Now - Are Tax Credits Right?

On our BestHomePro blog I have written two posts entitled Buyer on Fire and Buyers on Fire II about the federal home-buyer tax credit and about the newly proposed extension, plus expansion of tax credits.

When will this silliness stop? Am I too fiscally conservative? Isn't it like an individual using two credit cards to transfer balances from one, then three credit cards to transfer balances from two; while never making a payment on any card at all.

Doesn't it seem that the real estate marketplace is correcting itself? Aren't homes (on average) 30% lower in price than two years ago and aren't mortgage rates near all-time lows? Is "affordability" quite high right now?

I want to make it clear that I am not "anti-Obama." I desparately want him and for The United States to be successful, but come-on! With these kinds of incentives you only puff-up sales during the offer period and then destroy demand later that would naturally occur.

Am I missing something? Help me with your comments, and follow are common sense blog posts at www.BestHomePro.com/blog.