On Monday June 6, 2011, Louis Cammarosano, General Manager of HomeGain, was a guest on the Real Estate Radio show on The Big Talker 1580 AM, hosted by Ryan Sloper.
Listen to the show.
Part 1 (24:01)
Louis and Ryan discuss HomeGain members’ recent success in using HomeGain’s Agent Evaluator, noting one agent has made $2 million using HomeGain and over 1000 agents have made over $50,000 using HomeGain. Louis explains how the HomeGain Agent Evaluator program can benefit home buyers and sellers. Louis notes that 70% of consumers select the first agent they meet and that is a mistake. HomeGain’s can help home buyers and sellers compare realtor so that they pick the right one for their real estate needs. Ryan and Louis discuss the poor employment numbers that were released last week. Louis and Ryan discuss the likelihood of QE3. Louis notes that the Fed’s policy is a predicable- they follow Keynesian economics which involves printing money and notes that fixing a debt problem with more debt is not a viable solution. Ryan asks what will it take for private money to get back into the market at the current low rates. Louis notes that there is perhaps risk in US Treasuries especially given the low rates of return. Louis notes that taking out a low interest loan now may be a great deal given the anticipated increase in interest rates. Ryan noted that the Fed’s recent read on the economy was that there would be a decelerating recovery and that consumer spending was mixed as a result of rising commodities and gas and noted widespread weakness in housing. Ryan notes that home building industry can drive the US economy.Louis notes that the Fed anticipates that the economy will pick up in the second quarter. Louis postulates that when it doesn’t the Fed will claim they need to do something like QE3 due to unexpected weakness in the economy. Louis notes that the new home industry creates a lot of economic activity and contrasts the economic activity engendered by the existing home market. Ryan and Louis discuss whether the lack of new home building will create a housing shortage in the future.