Jim Gillespie, CEO of Coldwell Banker Real Estate LLC, participated in an open panel discussion on CNBC last Friday which aired live from the New York Stock Exchange.
The segment, which the network labeled “The Road to Rebound”, discussed the condition of the Housing Market in today’s shaky economy.
In the discussion, Mr. Gillespie encouraged government leaders to put a $15,000 non-refundable tax credit to all home buyers. He also called for a mortgage buy down that would reduce rates to the 4 – 4.5% range. The National Association of Realtors reports that this sort of stimulus would generate an additional $840,000 in home sales in a 12 month period.
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