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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Tradelite who wrote (40951)	9/7/2005 10:35:28 PM
From: Lizzie Tudor	Respond to of 306849

I'm not shorting it, but the fact is, they missed badly. And the stock is way down ah.

To: Tradelite who wrote (40951)	9/7/2005 11:55:35 PM
From: John Vosilla	Read Replies (1) \| Respond to of 306849

I think the 'street' is thinking much higher costs that can't be passed along to the buyer even in a best case scenario of economy staying strong and interest rates low. Inevitable shrinking margins should occur much faster due to Katrina.

To: Tradelite who wrote (40951)	9/8/2005 5:19:15 PM
From: Doughboy	Read Replies (1) \| Respond to of 306849

Tradelite, FYI. Justice Department files antitrust lawsuit against Realtors over Internet listings By Associated Press \| September 8, 2005 WASHINGTON (AP) -- The Justice Department sued the National Association of Realtors on Thursday, claiming it unfairly limits competition by allowing real estate agents to withhold home listings from Internet-based brokers. The antitrust lawsuit, filed in U.S. District Court in Chicago, follows lengthy negotiations in which the government pressed the Realtors to drop restrictions designed to protect traditional brokers. The association announced changes to its original plan Thursday, but the new steps were insufficient to ward off the lawsuit because the organization kept in place brokers' ability to discriminate against competitors who post listings online, said J. Bruce McDonald, deputy assistant attorney general in the Antitrust Division. Internet brokerages operate in the top dozen real estate markets in the country and their numbers are growing, Justice officials said at a news conference to announce the lawsuit. The online brokers often charge lower fees and allow consumers to review listings at their own pace. The Realtors' policy prevents brokers who rely on the Internet from being able to show customers all the houses that may be for sale in the locations and price ranges they're seeking, McDonald said. It "allows a broker to target his Web-based competitors," McDonald said. The association said its new policy took into account Justice Department concerns. Initially, listing agents were allowed to withhold available homes from specific Web sites. The revised policy says that, when an agent chooses, listings will not be displayed on any Web site. "The policy does not discriminate against any brokerage model, including discount brokers," said Al Mansell, president of the Realtors' association.