Greenspan, brokers hold secret council
Fed Chief meets in private with 23 real estate brokers
Wednesday, April 09, 2003
By Jessica Swesey
Inman News Features
Federal Reserve Chairman Alan Greenspan met privately with a select group of 23 brokers from large real estate companies around the country to tap their collective views on the state of the nation’s local and regional housing markets.
Representatives from Cendant Corp., Cendant’s NRT brokerage arm, Coldwell Banker, Home Services of America, Howard Hanna Real Estate, Long & Foster, Prudential Real Estate, RE/MAX International, Realty Executives and WiIlliam Raveis Real Estate were among those who attended the meeting.
A spokesperson with the Federal Reserve declined to reveal who attended the meeting or disclose any details about what was discussed.
"We are not at liberty to discuss Mr. Greenspan's private meetings," he said.
The meeting was convened so the Fed chief could gather data and information about local housing market conditions, one source said. The discussion supplied a snapshot of housing market trends. The Federal Reserve’s intention to permit banks to enter the real estate brokerage business wasn’t on the agenda for the meeting.
William Raveis, CEO of William Raveis Real Estate & Home Services, issued a statement saying he was present at the meeting, but a company spokesperson declined to comment on what was discussed.
The National Association of Realtors arranged the opportunity for the brokers to get close to Greenspan’s ears |
