Posted To: Pipeline Press
Yesterday I received this note from Tennessee. “Rob, thank you for the commentary, as always. Among several noteworthy items in yesterday’s, one thing stood out. ‘NAR has 1.5 million members but only 1.2 million active listings.’ That sure sums things up in my area.” (And most of those listings, when actually purchased, will have average closing costs over $6,000.) When you’re a hammer, all you see are nails. And when you’re a baby boomer, you think you’re one in a million. The National Association of Realtors (NAR, not to be confused with the NRA) has released a study finding a “dire shortage” of housing which requires a “once-in-a-generation” response. As Brent Nyitray smartly sums up, “The US housing stock grew at a 1.7% pace from the…(read more)
Source: Mortgage News Daily
