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Business Roundtable Releases Recommendations to Reinvigorate U.S. Housing Market
 



 
Richard Smith, the C.E.O. of Realogy Corp. (the parent company of my parent company), released a statement this morning that I really wanted to share. Here is what he had to say...
 
I am writing to let you know of a positive development for the real estate industry that was announced earlier today by the Business Roundtable, an association of chief executive officers of leading U.S. corporations. Specifically, the Business Roundtable’s Housing Working Group – of which I am the chair – issued a set of recommendations for the White House and Congress that are aimed at jumpstarting the housing market in order to stimulate a broader economic recovery.
The Business Roundtable’s recommendations are as follows:
· Keep mortgage interest rates at historically low levels (below 5 percent) for at least one year;
· Expand the current First-Time Homebuyer Tax Credit incentive from the lesser of 10 percent of the purchase price of the home or $8,000 to a higher limit of either 10 percent or $15,000 for all homebuyers, remove the income restrictions and include all primary residence purchases for one full year;
· Conduct a thorough review of current foreclosure mitigation and loan-modification ... more

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