ERA King Newsletter October 2013 - Page 2


Anna and I just returned from the ERA Top Broker Forum in New Jersey and here are a few take-a-ways from people a lot smarter than me…

• Real Estate is THE MOST important part of an economic recovery

• One million new households are being created per year. Sixty five percent (65%) will purchase a home.

• Six to six and half million homes sales estimated for 2013. Realogy feels this number is understated.

• One hundred and eighty billion was lent to Freddie and Fannie to support secondary market. All but forty billion has been paid back. The system worked as designed and congress wants to do away with the GSE’s? We still sold homes (4 million a year) during the worst of times. The economy would have collapsed without the Government Supported Entities (GSE). We had the best test sample ever of the system during the past seven years. I will not use the word idiots, I’m above that.

• Experts are very optimistic about the 2014, 15, and 16 housing market. Even better the housing market is nowhere near full recovery; we are still in the early phases.

The most powerful, efficient and effective lobbying group in Washington is The National Association of Realtors. It is imperative that we support ARPAC!