There are rumblings in the legislative branch about possibly extending and expanding the first-time home buyer tax credit.

Figure 1 - Home owner smiling Bob is all for extension and expansion.

This post’s title originated from an odd and unintentionally humorous commercial my friend heard on the radio advertising male enhancement drugs. The commercial claimed the advertised product would make you thicker and wider. Unless your parts are shaped like a spatula, this does not make a whole lot of sense.  I was thinking about writing a post on this, but decided that I didn’t want to write about wang pills.  I decided the metaphor was appropriate to apply to the housing market, given that we’re all pretty much boned.

Speaking of dick measuring, representatives in both the House and the Senate have proposed among them five different bills affecting the current $8,000 first-time home buyer tax credit, all trying to take some credit of their own as saviors of the housing market.  I applied the “popularity contest” principle to these because, despite slight variations, they all propose pretty much the same thing.

The common theme among the five bills is extension of the current credit. I can most certainly agree with this being the forefront of any initiative to modify the current credit.  Like others trying to weather an unsure economic climate, I had already made other financial plans and goals when I heard about the credit earlier this year. The prospect of getting $8,000 in return for purchasing a first home probably got many thinking about buying their first home, but it also left them scrambling.

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