Credit for home buyers on table in Washington

Marketwatch reports:

With home prices continuing to fall in many parts of the country, housing industry groups are pushing for lawmakers to approve a federal home-buyer tax credit that they argue will spur buying and soak up some of the oversupply that is dragging down the market.
As part of a larger housing-rescue package, representatives in the House have proposed creating a temporary tax credit with a ceiling of $7,500 that could be used by first-time home buyers or those who have not owned a home for three years. But that money would have to be repaid over 15 years.

More bad ideas out of government.