Peters said the National Association of Realtors has been actively concerned about this subject for more than 20 years, and that it's currently the organization's top priority. Both sides have turned up the political heat in recent weeks, urging supporters to write the Fed and their local congressmen. The NAR even went so far as to commission a public-opinion survey on the matter. The survey, which was conducted by a polling service called Public Opinion Strategies and featured 800 participants, found that most people don't want banks to own real estate brokerages. A measure of its success is today's record national home ownership rate.
Consumers are pleased with the service they receive.
If it ain't broke, don't fix it. One of the biggest fears of the real estate community is that banks will begin buying up small brokerage firms and eventually eliminate them. Bank proponents say the real estate world has nothing to fear from all this. Whatever the Fed decides next month, this is an issue that likely won't go away anytime soon. Bob Langcovers automotive and real estate news.