Notorious POD, Ep 41: Musings – Why Housing Will Remain Unaffordable… Unless…
A look at some recent data showing housing is becoming more and more unaffordable for the average American buyer, why that might be, and why
A look at some recent data showing housing is becoming more and more unaffordable for the average American buyer, why that might be, and why
As readers, listeners of Notorious POD, and people who have heard me present live know, I’m on the record as suggesting that we do not
In this episode, I speak with Marnie Blanco, VP of Industry Relations for the co-ownership pioneer Pacaso. We tackle what it takes to introduce a
Welcome to yet another edition of the Seven Predictions, sure to be wrong or your money back. This is one of my favorite annual traditions
Welcome to another installment of an annual tradition around here: the Seven Most Interesting People in Real Estate in 2021. I look forward to this
It’s Friday afternoon, and posting has been very light as I’ve been non-stop traveling. But I wanted to get this out because it came up
In Part 1, I speculated on the obvious first-order regulations headed our way as an industry, as well as the need for further regulation and enforcement mechanisms that those top-level regulations will create. In particular, I thought that the government (whether FTC or someone else) will need to figure out how to get information and data from the industry and provide oversight:
However I think these things through, I can’t escape the fact that any government regulation of these rules and policies requires if not regulation of the MLS, at least direct oversight of the MLS. At a minimum, it requires data collection and/or reporting from the MLS to whatever enforcement agency to make sure that the rules and regulations are being followed appropriately.
Just like mortgage banks and health insurance companies are required to submit information and reports to regulators, the MLS will have to be required to submit information and reports to regulators. And that’s at a minimum. At the maximum is total government control, a government-operated listings exchange.
The reality, I thought, was somewhere in between minimal reporting requirements and government-operated listing exchanges.
Turns out, there is a model already existing, already successful, and already operating that fits rather perfectly: FINRA, or the Financial Industry Regulatory Authority. A RINRA, or the Realty Industry Regulatory Authority, would accomplish almost everything the government wants to accomplish, win support from huge segments of the industry, as well as garner support from the think tanks, media, influencers and the various nonprofits that want to see the real estate industry change.
Longtime readers know that I am constantly wondering about, worried about, and in some cases, excited about future regulation of residential real estate. This is
Last week, I saw something that is not an uncommon sight here in Las Vegas. This was parked outside my office building. That is a
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