The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: bentway who wrote (273711)	9/6/2010 8:35:55 PM
From: Valuepro	Read Replies (1) of 306849

"As a bonus, it got many old, gas sucking, polluting vehicles off the road, and replaced them with safer, higher mileage vehicles." Bonus? Hell, no! What it did was create a shortage of late model used cars such that prices for them have shot up 10-36 percent. As such, CfC hurt poor people who are forced to consider used cars over new ones. Further, and like the new home buyer credit, most of what the CfC program did was advance sales that would have happened anyway, as new car sales fell off dramatically at the close of the program, not to mention the cost to taxpayers. "Moreover, (cash for clunkers) did so by subsidizing new-car sales that would have occurred anyway, eating up three billion dollars in taxpayer money." hotair.com blogs.edmunds.com blogs.cars.com CfC was a dumb idea!

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