Real Estate Lobby Participating in Crony Capitalism
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I have to admit that I am a big fan of John Stossel but odds are he is not making friends with the real estate lobby these days. He was on the Fox Business Network talking about the Homebuyer Tax Credit and fraud associated with it.
But in the middle of the interview he lambasts the real estate lobby for participating in crony capitalism and uses Freddie Mac and Fannie Mae as examples. Give it a watch and tell me your feelings on it.
I would preface this by saying that individual agents are not included in the critique. Agents are true entreprenuers fighting to earn a living off of their efforts. The lobby is the large corporations and organizations such as NAR and MBA who lobby Congress and lose sight of the issues that face local agents.
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Comment by Gainesville FL Realtors on 23 October 2009:
All government programs have fraud.
Pingback by More on the $8,000 Tax Credit | Real Central VA on 26 October 2009:
[...] Thanks to the Real Estate Bloggers for pointing this out. [...]