Frank Louis
New ad by the National Association of Realtors is an insult to every American home owner: hear it and weep
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By Frank Louis
September 1, 2011

So, I just can't believe what I just heard on my TV. I thought there was a problem with my audio so; I searched the web to listen to the ad again. I had, in fact, heard right. In the newest piece of propaganda being forced on us through the major news networks (even FOX) is the new ad promoting the National Association of Realtors as our biggest allies in this housing and economic crisis. Please, someone pass me an airline sickness bag and quick.

So, after several years of very well documented fraudulent activities involving realtors, straw buyers, sub prime mortgages, and a gauntlet of other violations of the law regarding these professionals, they are attempting to polish their image.

I'll tell you what: Want to polish your image realtors? Make an ad that demands that realtors who participated in the creation of this crisis be thrown in jail and that they repay those people whom they robbed with the millions of dollars in fraudulent commissions they made from the fraudulent home sales they orchestrated. Then I might believe you: but not until then. And, I believe there are millions of Americans who agree with me.

Frankly, I am getting tired of asking realtors about "straw buyers" only to have them tell me that have "no idea" about what that means. Hint; read the news.

This ad makes some interesting (but fraudulent) points like the following: It tells us that for every 2 houses sold 1 new job is created. Doing what? Selling houses? How many jobs did the housing crisis cost us? Heard any statistics regarding the unemployment rate in the housing sector? In the 20% range I believe I have recently read. The ad touts the creation of 2.5 million jobs. Please, tell us whom these jobs are for.

The ad goes on to tell us how housing sales is $2 trillion of the Gross Domestic Product (GDP). Didn't anyone tell them that Americans have lost (according to conservative estimates) over $6 trillion in net worth since 2008? Could they, perhaps, comment on that? I believe the loss stemmed from the actions of realtors as well as mortgage brokers and, of course, those nasty mortgage backed securities that were created at our expense. You know, folks who made $200 million or $700 million or so from our losses.

But the worst in this ad is yet to come. Yes, it gets worse. This National Association of Realtors ad has the nerve to insult Americans who lost trillions of dollars in personal wealth as a result of the criminal and fraudulent real estate practices committed by realtors. The ad states that the members of this association of criminals "supports responsible housing finance reform." What? Don't you get it? The cow is already out of the barn. You are a bit late, you are the reason reform is needed, and you took our money. We want it back.

Yes, the ad concludes that every house sold puts $60,000 into our economy "over time." Funny about that. This is within a few thousand dollars ($106,000 per house) it has been estimated that each family who purchased property prior to this crisis lost in just 2-3 years. How is that for "over time?"

Yes, we took the advise of our realtors, the mortgage brokers and appraisers and we were robbed. The fiduciary advise that is. I would like a reply from this National Association of Realtors on that point as well. The ad closed with the final insult added to injury by stating that they "believe that housing is a pivotal part of our nation's economy." Yes, it sure is.

The "professional" practices by this group have created the worst economic downturn since the depression. I would have preferred to hear them end the ad with something a bit more to the point, perhaps mentioning that fact from the point of view I have presented, admitting to their crimes. Yet, still no mention of people who put money down on the property they purchased at these fraudulently inflated prices created from "no doc-no money down loans."

Still, even more geniuses that we actually pay and rehire continue to astound. The leader of the fraudulent downfall of our economy, Ben Bernanke, recently discovered that tightened credit has become "an important problem" for prospective homebuyers, and discovered that uncertainty about employment and economic recovery are affecting people's decision to buy a house. No kidding Ben. Didn't you get the memo? We all lost over $100,000 per property that we bought between 2004 and 2006. Give us our money back and watch the economy turn around over night.

Ben was also quoted stating that he would like to see further efforts to modify loans where appropriate, and where not appropriate, to speed the process of foreclosure and disposition to clear the market and get these homes out of the pipeline. He believes addressing the distress in the housing market will serve to boost both home prices and consumer confidence. He pointed out that the decline in home prices is most pronounced among "distressed properties." I'll tell you, this guy is brilliant and I'm "distressed."

Ben, tell you what: let us bring in our closing documents. If we made a down payment and bought a house that is not worth the half of what we paid for it, use some of your stimulus money or a little "QE-2" and give us our money back. And our good credit too! People who made cash down payments during this fraudulent time should get a refund; cancel the transaction. End of story.

Nope, we continue to hear from water carriers like Florida's Attorney General Pam Bondi who, while defending her firing of 2 attorneys involved with foreclosure fraud investigation who did not play according to some rules she has made up, as I understand it, said she does not want to "reward those who simply choose not to pay their mortgage." Pam, its a bit more complex than that... But I believe that you're a liberal so I guess you just don't understand what it is like to have your life's savings and personal earned wealth "redistributed" in just a few months under the guise of making the "American Dream" available for everybody.

This nation was founded on some basic Biblical principles. The founders prayed and contemplated scripture continually. I do not believe they would have created mortgage backed securities or created this nightmare. Some ask me why I continue to fight against this injustice. I have to quote the following scripture. "Do not be afraid of them. Remember the Lord, who is great and awesome, and fight for your brothers, your sons, your daughters, your wives, and your homes." Nehemiah 4:14. And that is what I do; "fight for our homes."

© Frank Louis

 

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Frank Louis

Frank Louis is a print and on-air commentator who offers opinions and solutions on and for the economy, social issues, and the future of this nation. In the Old Testament, Nehemiah 4: 14 instructs us to fight for our houses; something we need to be doing now. Our future generations depend on it!... (more)

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