The Daily Progress’ Brian Mcneill has a report.

There is very little change to what I wrote in my most recent market reports.

One clarification regarding the $7,500 first time homebuyer “Credit” – It is a LOAN.

“…the tax credit must be repaid. Home buyers will be required to repay the credit to the government, without interest, over 15 years or when they sell the house, if there is sufficient capital gain from the sale…if the tax credit is claimed on the 2008 tax return, a $500 payment is not due until the 2010 tax return is filed.”

Download the full report here.

I wrote a story at AgentGenius the other day describing the breakdown we’ve seen in our economic system, and this picture says at least one thousand words –