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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
Sheldon Richman

Sheldon Richman is the former editor of The Freeman and a contributor to The Concise Encyclopedia of Economics. He is the author of Separating School and State: How to Liberate America's Families and thousands of articles.