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Forward Guidance
Jack Ryan on The Housing Cartel That's Stifling The American Economy
May 30, 2024
01:15:07
Snipd AI
Author Jack Ryan exposes the monopoly-like behavior of real estate institutions in the US, questioning fixed 5.5% fees. Discussion on MLS, Zillow's impact, Rex Homes, and potential market responses to fee changes. Lawsuit against Zillow and NAR for antitrust issues. Analysis of housing market, interest rates, and economy impact of fee reductions.
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Quick takeaways
- The residential real estate brokerage business in the US operates as a cartel with fixed fees, impacting consumer costs and market competitiveness.
- Eliminating fixed fees in real estate could lead to increased home transactions, productivity, and broader economic benefits.
Deep dives
The Impact of Fixed Real Estate Fees
The discussion focuses on the cartel-like nature of fixed fees in the residential real estate brokerage business in the US. Highlighting that the industry charges a consistent 5.5% fee, regardless of property price or market conditions, the podcast delves into the disparity with other countries where fees are significantly lower, impacting consumer costs and overall market competitiveness.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode