eXp World Holdings, Inc. (OTCQB: EXPI) is offering Americans a 21st century new deal with its Agent-Owned Cloud Brokerage™. Back in the 1930s, Americans were, as they have been in recent times, picking up the pieces after a series of devastating economic events, but if we thought the Great Recession was bad, it’s because most of us haven’t been around long enough to remember the Great Depression. Writing in the Wall Street Journal (http://nnw.fm/Diys5), well-known financial commentator and hedge fund director Roger Lowenstein opined that ‘the world didn’t experience anything close to a global depression during the recent crisis. Peak to trough, global GDP fell 15%, world-wide, from 1929 to 1932; it fell less than 1% from 2008 to 2009.’
As part of recovery efforts back then, President Franklin D. Roosevelt launched his New Deal, under which the Federal Housing Administration (FHA) was created. The FHA was a big deal for housing since it gave rise to the vibrant housing market now estimated by the National Association of Home Builders to contribute about 15 percent of GDP (http://nnw.fm/8GTa4). The FHA set standards for construction and underwriting of mortgage loans. Its most important contribution, however, was its provision of insurance for loans for home building made by banks and other private lenders.
The FHA has become the largest insurer of mortgage loans in the world, insuring over 34 million properties since its inception in 1934. It now falls under the aegis of the Department of Housing and Urban Development. After its creation, home ownership increased. It was 44 percent in post-Depression 1940, but is now 62.9 percent, according to a July 2016 press release from the Census Bureau (http://nnw.fm/0vHQq)… and it keeps rising.
Last week, housing data for July 2016 (http://nnw.fm/oX6sp) released by the Census Bureau and the Department of Housing and Urban Development (HUD) showed that ‘private-owned housing starts in July were at a seasonally adjusted annual rate of 1,211,000… (which) is 5.6 percent above the July 2015 rate of 1,147,000.’ Private-owned houses completed ‘were at a seasonally adjusted annual rate of 1,026,000… 3.2 percent above the July 2015 rate of 994,000.’
eXp World Holdings is offering brokers, agents and prospective home owners a new deal in these still uncertain times. Its Agent-Owned Cloud Brokerage, operated by wholly-owned subsidiary eXp Realty, offers brokers and agents a full service national real estate brokerage platform with all the services offered by a traditional brick-and-mortar brokerage… but without the associated costs. It provides a novel 3-D environment in which agents and brokers can source training, educational, coaching and mentoring resources, as well as transaction and technical support.
An updated research report from Fundamental Research (http://nnw.fm/Nmzm0) issued last week details that ‘Since our previous report in May 2016, the company has expanded its membership count by 31%, from 1,204 to 1,580. The platform only had 665 real estate brokers and agents as members as of June 30, 2015.’
For buyers, things have never been easier. From the comfort of their armchairs, they can find the right agent and, through him or her, the right house. eXp Realty is currently operating in 41 states across the U.S., as well as the District of Columbia and Alberta, Canada. This new deal from eXp World Holdings looks like the real deal.
For more information, visit the company’s website at www.eXpWorldHoldings.com
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