There is more incentives coming from Uncle Sam to purchase a home. It's almost official and expected to be signed today, a bill extending the $8,000 tax credit to firsttime homebuyers AND now including a $6,500 for buyers who currently own a home and are moving up. Buyers who have owned their current home for the last five years are eligible subject to income restrictions.

To qualify buyers must have signed their purchase agreement by May 1st, 2010 and close escrow no later than July 1st, 2010.

The credit is available for the purchase of principal homes costing $800,000 or less, meaning vacation homes are ineligible. The credit would be phased out for individuals with annual incomes above $125,000 and for joint filers with incomes above $225,000.

Is this a good thing? I am lukewarm on it. Although I think housing is one of the pillars to a good economy I feel these billions of dollars would be better spent in helping those who are struggling to remain in their homes. There is no bailout for current homeowners and struggling homeowners are left to fend for themselves. That for me is the outrage....