Business Roundtable Recommendation to Reinvigorate Housing

I recently had the opportunity to be a part of a conference call with other real estate brokers throughout the country to listen to the unveiling of Business Roundtable's new recommendations on how to re-energize the housing market in the United States. Richard A. Smith, the CEO of Realogy (the organization of which ERA Landmark is a franchisee), has been in Washington, D.C. serving in the capacity of chair of the Business Roundtable's Housing Working Group. The Business Roundtable is an association of chief executive officers of many leading companies in the U.S. The group's objective was to develop ideas on how to improve the current housing market, which in turn should stimulate economic growth as a whole. These solutions were then passed along to Congress and the White House for consideration. There are five main proposals, rewritten verbatim, listed below along with some explanation of the thought processes behind them.

1. Keep mortgage interest rates at historically low levels (below 5 percent) for at least one year;

The hope is for policy makers to keep up the efforts to hold rates at or below 5 percent. It is believed that many qualified buyers are holding off on purchasing a home anticipating that rates will fall even further. If the rates were guaranteed to remain below 5 percent, but for only a finite period of time, home buyers would then have the peace of mind and incentive to make their purchase decision and act before that set expiration date.

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Robyn Erlenbush
CRS, GRI, CRB, Broker Owner
Phone: (406) 586-1321
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