Real Estate Video Blog: “Fueling the American Dream” Featuring Moe Veissi, National Association of Realtors President
Special Guest, National Association of Realtors’ President Moe Veissi, speaks in this week’s video on the power of Real Estate to stabilize our economy and strengthen social & cultural profiles, leading to successfully attaining the American Dream.
One of the things that Realtors do, not simply by counseling the folks in buying real estate, they also protect real property rights in America in a lot of different ways. We never go out and solicit single family home owners and say, “Come with us, understand what we’re doing in the marketplace.” We do it. We do it selfishly because that’s our business, but we do it more importantly because we really truly believe that America’s culture, both socially and culturally and the economic health of this country is predicated upon a healthy real estate economy, and especially a housing economy.
There’s about 330 million people in this country, and about 75 million home owners in this country. Know that of those 75 million home owners, over 90% of all the personal income tax thats paid in America is paid by those home owners.
Know too that every time we sell 2 homes in America, 1 job is created; so that even in the worst of times between that period between 2005 and 2008 we were churning out in this country over two and a quarter million jobs a year.
Know too that when you close a deal in real estate that theres a lot of peripheral business that occurs. You close that transaction, but we know that about $58,000 worth of additional economic benefits accrue; things like a new roof, or paint, or landscaping, or appliances, or furniture. All of that occurs when you sell that particular piece of property.
But even beyond the benefits of real estate, and there are a lot more economically. The fact that a home owner in this country’s equity position is roughly about $150,000. A renter’s equity position in this country is about $5,000. We know truly that the homeowner has a stable portfolio, and that stable portfolio is predicated by majority in the investment they make in their real estate, most prominently in their home. But more importantly there’s a social and cultural benefit when you sell a home.
The folks in this business who sell a home recognize statistically proven, that people that live in a home are healthier. That people that live in homes’ marriages last longer. They know too that the kids that are in that home make better grades in elementary school, high school, and college. They know they go on to get better jobs. They know there’s less teen pregnancy in home ownership. They know there’s less crime in the community, there’s more involvement on a communal basis by people in a home.
They know that they are the fabric that knits this country together. That’s uniquely different than any other profession, nobody can say that. Nobody can say that they not only help build the economic health of this country, but they help build the social and cultural productivity of this country. And that’s what we do. That’s what Realtors do.”
Thank you to the National Association of Realtors’ and especially to President Moe Veissi, for taking the time out of your busy schedule to come into our studios! We greatly appreciate all that you do for the industry and for your strong advocacy with the Realtors’ Political Action Committee.