New Jersey Firm Calls on Obama to Convene Housing Think Tank

According to ""Realogy Corp."":http://www.realogy.com, it's time to put real estate professionals who are on the front line every day fighting the housing crisis at the head of the table when it comes to crafting a solution to stimulate the sector's recovery.
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Richard A. Smith, CEO of the Parsippany, New Jersey-based real estate firm has ""sent a formal request"":http://www.realogy.com/media/pr/show_release.cfm?id=1055 to President Obama and his administration calling for a White House summit on housing.

""Housing has an enormous impact on our nation's GDP and given its substantial influence on all aspects of the economy, we believe it warrants special attention from the White House,"" Smith wrote to the president.

""The key to the proposed White House summit on housing would be its emphasis on bringing together real estate

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business leaders to make actionable recommendations designed to stimulate the growth necessary for a sustained recovery in housing, which would have an ensuing positive effect on job creation and the broader U.S. economy,"" Smith continued.

He says frontline business operators from the residential real estate industry would bring a valuable perspective to the process, and provide White House officials with ""the benefit of unfiltered, real-time market feedback.""

Smith is lobbying for the administration to convene industry leaders who are residential brokerage operators, real estate franchisors, homebuilders, mortgage lenders, and other stakeholders.

In his letter to the president, Smith concluded by stating, ""Your leadership on this issue would bring together the top business minds of the residential real estate industry at a time when practical business experience may very well offer the guidance necessary to stimulate housing, and thus the U.S. economy.""

Realogy Corp. is a global provider of real estate and relocation services. Its business model includes real estate franchising, brokerage, relocation, and title services.

The company’s brands and business units include such names as Better Homes and Gardens Real Estate, Century 21, Coldwell Banker, and the Corcoran Group. Realogy is owned by affiliates of Apollo Management, L.P.