First Time Buyers Get Tax Credit Any Time Soon in Long Beach, CA

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The Washington Post wrote that first-time D.C. home buyers who bought a house in ’06 or planning to buy one in ’07 are eligible for tax break.  If it is their principal residence, they could get  a credit against their federal taxes of up to $5,000. 

The law defines "first-time home buyer" to mean "any individual if such individual (and if married, such individual’s spouse) had no present ownership interest in a principal residence in the District of Columbia during the one-year period ending on the date of the purchase of the principal residence to which this section applies."

It is an interesting twist and could breath new life in our dwindling economy as it should entice people to finally make the big jump.   When will we see this happening here in California?  Probably no time soon.  The fact is we really have not been hit hard in Southern California, on an economical level.  However, I can’t help but wonder how much this would help our economy if we could give first-time buyers here a little push.

 You can read more on Urban Trekker.

Apple Event, a View in Long Beach, CA

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Are you tired of it already?  I am.

I’ll admit, I love Apple and its intelligently designed products but I could do well without the onslaught of  secret products, extrapolations and guess.

Will the iPhone be unveiled in a  few days?  Who cares!  It would be nice but it is not my number one priority.  Will iTV be unveiled?  Same thing, not my number two priority.  I don’t mind hearing from it once in a while but every day?

Rumors gone wild
It used to be that no one could predict what Steve Jobs would reveal next.  The suspense was great and he never failed to surprise us.  The past year we saw a surge in guess work, moles popping up to tell us the latest secrets and guesswork. Too much!  It’s too much.  You’re taking the fun away from it.

I like a little anticipation, mixed with some intelligent extrapolation in a pure business sense and listening to user’s needs.  That’s fun but lately any Apple blog seem to know or hint at impending products.

My real concern
However my number one priority is way less sexy than a multimedia phone or a TV hookup.  It’s security and convergence.  What a dirty over-used word convergence.  What does it mean?  Converging products and technology onto one platform and product line.  Multimedia is where Apple is well poised to take over, to the great threat for Microsoft. 

Security
Sure we are blessed with a well designed Unix OS that has been proven by trial and fire over the decades.  But as Apple picks up user’s interest (and wallets), so do hackers.  I wonder if Apple has a strategy plan?  Will they be upfront about vulnerabilities?  Will they patch quickly?  Or are they getting too big and fall into the death trap that has plagued Microsoft, that of arrogance towards its users?

Lawsuits and wasting resources
As time goes by, Apple, like Microsoft is in  court fighting lawsuits based on monopolistic practices.  Apple isn’t Microsoft and does not command the same power but already the duo iTunes and iPod is raising lawsuits.  Also Apple does not have to resort to the same practices Microsoft does.  Apple innovates, Microsoft follows.  Microsoft buys out, intimidates and steal, Apple has done a good job on their own, as far as we know.  But things could change.

p.s. I love MacUser, The Apple Blog and such.  I read you guys every day.

Mortgage Lenders Network Stops Loans

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According to Reuters, Mortgage Lenders Network, a large U.S. subprime lender has stopped loans and sets layoffs.  This will be an interesting trend to watch out for as some lenders are forced to buy back loans they unwisely sold due to delinquencies.  They evoked wholesale market conditions as having "deteriorated dramatically" in the last two months.

What is a subprime lender?  It is a lender who lends to borrowers who do not meet the guidelines mainstream lenders ask for.  In other words, it could be someone with a poor credit or with a foreclosure past.

It will be interesting now to wait for the number compilation of the last few months to give us a more accurate idea of last year.