The housing market is cracking down on real estate brokers.
In fact, it is so severe that the National Association of Realtors is calling for an immediate national moratorium on the practice.
“It is very clear that the housing bubble and the housing crash were engineered by the real estate industry,” said Gary L. Gershman, NAR’s executive vice president for real estate.
“Real estate brokers and brokers’ association members have the responsibility to protect their clients and their assets.”
In addition to a ban on brokers, the Real Estate Investment Trust, the group that oversees home-ownership investment trusts, has proposed a new rule that would prohibit any broker or manager from selling an asset they have not already sold in the last year.
The rule would apply to the entire industry.
But it would apply only to brokers.
The change, which was first reported by CNBC, comes amid a boom in demand for home-equity loans.
Home-equities are the backbone of the housing market.
According to the Federal Reserve, the U.S. housing market has grown by over 400,000 units per month since July 2014.
The housing bubble began in 2007 and burst in the fall of 2009, with home prices plummeting, unemployment climbing, and banks failing.
This boom in home prices is one of the factors behind the recent collapse of the U:S.
And the housing-market collapse, along with the Great Recession, has been one of major drivers of the economic recovery.
“This is a very serious problem,” said Steven A. Cope, an analyst at Standard & Poor’s.
“The impact on housing markets is likely to be substantial.”
Cope says that the rules would not apply to investors who do not have homes.
They would apply, however, to individuals who hold real estate investments and who have purchased their own homes.
If the rule were adopted, real estate transactions would have to be completed within two years.
Homeowners who have made the required payment on their home in a given year would be exempt from the rules, and anyone who had not made such a payment would be required to sell their property in the next two years to a broker.
It’s unclear how much the rules could cost homeowners.
Some brokerages have already been criticized for not making payments.
“I have seen real estate agents who are not paying out on the mortgages,” said Andrew P. Bostock, an investment manager with RBC Capital Markets.
“They’ve never gotten paid.
It would be very hard to find an agent who would be able to do this without the broker.”
Some brokers have begun warning clients that they may have to take out a loan to sell properties, but others have not.
“Many of these brokers have no way of knowing whether the sale is really going to happen, and that means they are in a position of being at risk for not being able to pay,” said Gersdman.
“Brokers who are doing this to their clients, it would be an absolute disaster.”
It is also not clear whether the changes would be effective.
Some analysts have said the rules will not work, and others say the changes will help.
“We’re very concerned that this is going to be a temporary solution,” said Cope.
“If the real-estate market continues to grow and prices continue to increase, the effects will be felt by all homeowners, not just those who own the homes.”
This article was originally published on December 10, 2018.
It has been updated to include additional comments from the National Assn.
of Realty Brokers.