I’m listening to Dave Ramsey right now talking about extending the tax credit for home buyers.  He is FOR extending the credit and not just to first-time buyers – to EVERYONE.  And he suggests it be increased to $10,000 rather than the $8,000 that expires at this point on November 30, 2009.

“This recession hit housing harder than it’s ever been hit. From an economic viewpoint, that’s scary because housing drives the economy,” he said (I put this in quotes, but I may have a word or two out of place… you get the gist).

So Dave Ramsey is in favor of extending the tax credit.  And according to CNN.com, it may just happen.

The proposal, by Majority Leader Harry Reid, D-Nev., and Senate Finance Committee Chairman Max Baucus, D-Mont., would extend the $8,000 tax credit — which expires Nov. 30 — through March 31. Its value would drop by $2,000 for each of the subsequent three quarters of 2010.

I’m actually torn about expiring the credit.  I like that people will be spurred to buy because time is money and when they know they have only so long to make the purchase (use it or lose it), then they’ll move forward and buy.  On the other hand, having it always available would also keep the housing market moving, thereby it will help the economy in the long run through job creation.

What do you think?  Extend the first time home buyer tax credit?  Make it available to everyone?