Question 3: Why Just 1st Time HomeBuyers?

This is a tad bit off the subject of the previous post "This is HUGE...or is it?", but I've been wanting to get people's thoughts on this for a long time:

Why only allow 1st Time Home Buyers the Tax Credit?

It is my understnding that out of all the categories of Homebuyers, this was the group that was doing the BEST overall...in other words, needed the LEAST amount of help.

Why not allow the Tax Credit to be for ALL Owner-Occupied Home Buyers, whether it's their 2nd/3rd time around or not?

Seems to me, after you've gone through your first purchase, your 2nd purchase is going to be much SMARTER. This person has had real life experience on what homeownership and home maintenance is all about. Chances are they'll be:

• more involved in the whole process, especially the home inspection.
• more careful in the neighborhood selected.
• more educated in that so much more of the closing can be negotiated and questioned.
• less likely to just blindly following their Realtor, Mortgage Broker, Lender, or Seller...and worst of all, their own EMOTIONS.

1st Time Homebuyers are clueless for the most part, they just want a home and I would argue are selecting their home being driven mainly by emotion.

Non-1st Time Homebuyers, especially those that have had to SELL a home, have the experience now to ask questions regarding the actual INVESTMENT they are making. They realize that a $10,000 increase in value doesn't mean much because it's going to cost at least that to sell the house whenever that time comes.

IMO, Non-1st Time Homebuyers have a better chance of making a far better and smarter investment decision, simply do to experience alone.

So it leads me to ask: Why Don't These Guys Get a Tax Break?