In a speech to Annual Chamber of Commerce "State of American Business" Conference, CEO Daniel Mudd offered suggestions to help unleash the “latent demand for housing.”
He offered three groups of potential buyers the industry should try and reach;
New Americans. Mr. Mudd commented that there have been over 8 million new Americans in the last 10 years and that this is the fastest growing population. Even if a small percent of those “new Americans” purchased a home it would help boost the housing market.
Veterans. His thoughts are that the VA home buying programmed should be “beefed up” to make it easier for the men and women of our armed forces to purchase a home.
Minority families and communities. The minority home ownership gap must be closed.
Mr. Mudd has made several good points. It is my opinion that real estate agents and realty companies individually and as a group, have not taken full advantage of the opportunity to address the critical need of educating, assisting and promoting the benefits of home ownership to those groups. This would seem to be an obvious win-win for everyone.
From a purely selfish standpoint, the increase of buyers would go a long way to offset the challenges now facing real estate agents throughout Florida and most of the country. It appears that some of us ignored the slow dwindling of buyers in the market place due to the amazing appreciation of home values over the past several years. With the demand side of the real estate market shrinking for some, it was ignored or masked as we watched our profits rise by the sheer increase of volume.
What better way to restore the health of the industry and help thousands of Americans enjoy home ownership at the same time than to implement changes to our our model as suggested by Mr. Mudd.
Daniel Mudd’s entire speech can be found by visiting here.
Related Florida real estate views:
Fannie Mae increase conforming loan limits
Builders say Fannie Mae & Freddie Mac have failed
National real estate market nowhere near the bottom?
- Greg Staker - Watson Realty Corp. - 407-304-0255
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