"It didn't take the National Association of Realtors (NAR) long to come out swinging at CBS after the network aired a report on discount real estate brokers. The report, anchored by Leslie Stahl was aired on 60 Minutes last Sunday and can be seen in its entirety by visiting our the video link at the bottom of this article.
NAR certainly has some reasons to be aggrieved. Stahl started her segment by stating that real estate agents pulled in $60 billion in commissions last year. "They charge," she said, "a 6 percent commission on the price of every house they sell." She called the 6 percent "sacrosanct" and "sacred" and said that the rate has remained constant even as the price of houses had quadrupled over the years...."from Mortgage News Daily
Tuesday, May 22, 2007
NAR counters segment on Discount Agents
NAR countsers segment on Discount Agents:
Construction, Mortgage Sectors hit by lay off
Construction and Mortgage Jobs are down as a result of the slow down in the housing market. 45,000 residential housing construction jobs were eliminated in 2006.
"We can insure your rental property, investment property, vacant home today, call Dick Watts Insurance @ 502-245-3625 for a free quote" Dick Watts Insurance"The downturn in the housing market appears to have caused more layoffs in construction and mortgage lending than real estate sales, the Mortgage Bankers Association reports.
"In a new analysis, "Trends in Housing-Related Employment," MBA researchers say that 45,000 residential housing construction jobs were eliminated in 2006, while employment in the mortgage lending industry in March was down by 19,000 jobs from a year ago.
Meanwhile, industries related to home sales experienced a net job gain averaging 6,900 a month in 2006, the MBA reports.
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MBA researchers expect housing starts and home sales will "continue to moderate well into the first half of the year, reaching their troughs around the end of the third quarter or the beginning of the fourth."
Housing related employment will continue to decline in 2007, .." from Real Estate News
Link to Recent Employment Report
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