Congress is currently debating two bills that would extend the life of the $8,000 tax credit for first-time home buyers, which expires December 1. Is this a good idea? The answer recalls the joke about putting two economists in a room with a problem and getting three answers.

There’s no question that housing remains a terrible weakness, with tens of thousands of foreclosed homes dragging home prices down in most areas of the country. The Mortgage Bankers Association forecasts foreclosure rates will continue to climb through late 2010, reaching its high point when unemployment hits more than 10 percent in the second quarter of the year.

Full story is availalbe on moneywatch.com