The federal antitrust lawsuit, which alledged the National Association of Realtors policies unethically restricted competition and consumer choice, finally came to a proposed settlement this week. The proposed change set forth by NAR would change it's existing heavy online listings restrictions.
In a quote from the Department of Justice, "Many local MLSs adopted NAR's (VOW) policy before NAR suspended its policy during the department's investigation," and in one market area in Kansas "all brokers withheld their listings from the one VOW in the community, which was then forced to discontinue its popular Web site."
In response to the settlement, NAR president, Richard Gaylord, said, "This is clearly a win-win for the real estate industry and the consumers we serve."
A house is worth no more than what someone is willing to pay you for it. No buyer? Value = $0. House prices have held steady throughout the past 100 years in the US at 3x median income of whatever area you study… because every house you build must be affordable to the workers within the surrounding area.
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The good news is, once the dust settles, the new and improved mortgage payments will be a piece of cake!
Kevin Brewer
Acne Treatment
Mark these words, it will be much worse that the ‘73-’75 recession, it will very likely be worse than the Great Depression, but will be a depression, a real depression. A morning’s worth of true, overall. thoughtful research will convince anyone willing to face the truth.
Jay
Skin Care
Lenin was (sort of) right! He just didn’t know why. The inherent contradictions in a capitalist society will destroy capitalism as you know it! The oppression and greed of banks will lead to massive dislocations in the economy that will force true economic and social revolution in this country through legalized institutions.
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