The Beverly Hills Real Estate blog www.patandmelody.com
Friday morning and I can think of one place where people are not looking forward to today. Two words; Golf Channel. After Tiger's performance yesterday folks at GC have to be wondering about their bad luck. Not to mention Tigers. 2 and out. He's out of the tournament and GC & NBC will be left in the lurch. Golf Channel's ratings were 50% higher than last years same time with the return of Tiger this year and now he's gone. Will you be watching today and though the weekend? Too bad.
Friday and a warming trend heading our way... mid 70's for downtown.
The market continues to slide opening lower today.
The Rocky Mountain Newswill publish its final edition today. Newspapers are beginning to fold... if you'll pardon the pun. Who will benefit? Will Denver radio get a lift? Some say yes, others no. We'll see.
In LA, when the Times goes out of business... We doubt radio well get a boost as it basically mirrors what's in the paper.
Real Estate and Obama. Good or bad? An answer from the President of CALIFORNIA ASSOCIATION OF REALTORS
Dear C.A.R. Member,
As you may have heard, President Obama's proposed budget includes a provision to reduce the mortgage interest deduction. While C.A.R. has supported and applauds the efforts of the Obama Administration in taking aggressive measures to stabilize both the housing market and the nation's economy, C.A.R. is strongly opposed to this proposal. C.A.R. has consistently made its opposition to any such change crystal clear with our elected representatives, and will vigorously fight this provision in the halls of Congress.
Few issues are more sacrosanct to homeownership than protecting the mortgage interest deduction. A reduction for those earning more than $250,000 will negatively impact the California housing market, further erode opportunities for homeownership in our state, and will contribute to further price declines and diminished equity for homeowners already reeling from the economic downturn.
There are a number of other real estate-related provisions in the proposed Obama budget that will directly impact our industry and the California housing market. C.A.R. is in the process of analyzing and vetting each one. We will communicate to you our analysis as soon as it's available.
C.A.R. is working closely with NAR staff in Washington, D.C., to make certain that our collective voice is heard loud and clear on this issue critical to our industry and every homeowner, home seller, or home buyer in the nation. We are readying a letter to the California delegation in Washington outlining our opposition to this regressive proposal.
We'll keep you updated on events as they occur. Thank you for your continued support.
Sincerely,
James Liptak
2009 President
CALIFORNIA ASSOCIATION OF REALTORS®
So that's it for today. Have a great one and see you tomorrow!
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