Real Estate Blog - Is the NAR Proposed Stimulus Plan Helpful to Consumers or Is It Self Serving to our Industry?

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Is the NAR Proposed Stimulus Plan Helpful to Consumers or Is It Self Serving to our Industry?

I attended the NAR Convention in Orlando. During the NAR Board of

Directors meeting we were told of a four point program that NAR Leadership

was going to present to Washington. The plan has 4 basic points:

Make the $7,500 tax credit available to all with no payback
Make new loan limits permanent
Government assisted lower interest rates
Keep banks out of Real Estate.

NAR Logo

Lots of controversy on the language at the meeting. In the end after

several attempts to adjust the wording it was passed with the thought that

no matter how much we tweaked the words we need to allow leadership the

latitude to bring the message to Washington DC. It would likely be adjusted

by both parties during the discussions. Inman News posted a report on the

proposal Here Read some of the comments on the Inman article it is quite

interesting. A lot of differing opinions.

Including a short video for you of the NAR Directors Meeting and even better,

the "Peabody Ducks" making their daily pilgrimage to the fountain in the center

of the hotel lobby.

Is there a corollary between the NAR Stimulus Plan and the Peabody Ducks??

Grand Rapids Ada Real Estate ~ Westbrook Realty

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Posted by Terry Bonnie Westbrook Westbrook Realty Grand Rapids Forest Hills MI Real Estate on 11/12/2008 10:55 AM

Comments (7)

NAR Stimulus Plan in the Mortgage / Finance Channel

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Originally posted at: Grand Rapids Michigan Real Estate Blog: Is the NAR Proposed Stimulus Plan Helpful to Consumers or Is It Self Serving to our Industry?

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7 Comments on Is the NAR Proposed Stimulus Plan Helpful to Consumers or Is It Self Serving to our Industry?

NOV

2008

Terry: I think both. The housing industry does spur on lots of other areas in the economy so when one is moving along the others follow. I don't agree with all of the NAR lobbying but they do seem to get what they want on most occasions. Notice I said what 'they' want, not necessarily the membership. I think it's a 'headstrong union'.

Lyn: I agree with most of the direction of NAR they do seem to go off issues some of the brokers don't have a lot of interest in.

Terry: I think the four points are great -- both for our industry and consumers. The present tax credit (loan) is a joke, and everybody wants lower interest rates. I was wondering yesterday -- remember when you had to pay actual interest on a car loan and then dealers started to offer zero percent loans? I never thought I'd see the day. Of course, we all know it was a discount-to-retail strategy and the price of the car was bumped up to include financing. Not gonna happen in the housing market, though, unless builders carry their own financing or the government pays banks to make loans at zero percent.

Everything the NAR does is self serving, from the expensive classes, to the expensive advertising on Realtor.com..

Elizabeth: It is interesting how everyone sees the proposal, thanks for commenting.

Konnie: I think the programs at NAR could be better but it is difficult to get instructors to work for little pay.

NOV

2008

Funny video with the ducks! Thanks for linking to the inman article, I will check it out.

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