After only four days, the Cash for Clunkers Program, designed by the government to stimulate auto sales, has run out of money and is on hold. The California first time home buyers credit of $10,000 is also shut down for lack of funds, and with the new state budget in place, I'm sure that it won't be revived.
This leaves only the federal program that rewards first time home purchasers with an $8000 credit. I wonder how long this incentive for buyers will last, now that statistics are starting to show a resurgence of home sales? With more foreclosures on the horizon, the housing market still needs all the help it can get.
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