Not everyone should own a home?
Lenders need to have strict standards?
House prices can go down as well as up?
These are not the usual positions of an organization that describes its “core mission” as helping its more than 1 million members — individuals who sell real estate — become “more profitable and successful.”
The organization is the National Association of Realtors® (NAR), the members of which are rare in the Big Apple.
Ron Phipps, the NAR’s immediate past president, expressed those unexpected views in a blog post last week despite how contradictory to the organization’s mission they appear to be.
His post was headlined 10 Lessons to Learn as the Housing Market Recovers, and among the 10 were the following (verbatim):
- Everyone needs shelter, but not everyone needs to own their shelter;
- High homeownership rates are important but they must be sustainable;
- Sound underwriting of mortgages is critical;
- Home prices go up and go DOWN.
For a former leader of an organization aimed at boosting home sales to express those points borders on revolutionary.
Good for him and good for the NAR.
Tomorrow: Power play
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Licensed Associate Real Estate Broker
Senior Vice President
Charles Rutenberg Realty
127 E. 56th Street
New York, NY 10022