North American Markets

[CC] 00:03:33 Let's get some reaction to the housing data. Let's go to the CEO of Coldwell Banker, Jim Gillespie. Good morning. Thank you for having me on. That is a very upbeat number of 6.7%. What is your take on that data ? It is good news. The move up buyer is not still in the market. Those numbers reflect first-time home buyers and investors taking advantage of some very good deals with short sales and foreclosures. To get real estate really moving, because we are still below where the numbers should be, we need to get the move up buyer back in the marketplace. That is why I am here in Washington, D.C. this week. I want to talk about the feel of the housing market... 00:06:33

[CC] 00:13:03 They say if you increase the tax break, they think that will help the market. It would get housing moving. Last week was the Coldwell Banker Legislative Week. I send out an E-Mail to our broker/owners and our $100,000 sales force. Over 250 of them met with their local representatives during the Memorial Day holiday break. That is why I am here on Capitol Hill to fall on those meetings and talk to senators and representatives to make sure they understand the importance of housing. Once housing gets moving, then the economy will start to jump-start. Why $50,000? That was originally in the Senate proposal. That went to the Joint Senate House Committee back in February unfortunately, it did not make it out. Have you gotten any feedback from Congressional lawmakers about your proposal? The responses I received last week from Coldwell Banker real legislative week was that we have some positive momentum... 00:18:48