November 21, 2024
Learn everything about NonQM loan products & how to market them.
Visit NonQMexpert.com
Click HERE
Recent revelations about the National Association of Realtors (NAR) have given real estate professionals another compelling reason to reconsider their membership. The organization’s executives have been found to be using member dues for lavish personal expenses and compensation packages.
Former CEO Bob Goldberg’s compensation is particularly concerning. His annual salary jumped from $1.2 million to $2.6 million during a period marked by questionable business decisions, including:
Beyond his salary, Goldberg’s contract included extravagant perks:
As a nonprofit trade association, NAR’s spending practices could violate tax laws through “private inurement.” According to DC nonprofit lawyer Jeff Tenenbaum, “It is highly unusual, I would even say virtually unheard of for volunteer leaders and officers to receive compensation at those levels.” This violation could jeopardize NAR’s tax-exempt status.
Meanwhile, the housing market faces severe affordability challenges. According to CNBC, home-buyers now need to earn 80% more than they did in 2020 to afford a house. Two key factors drive this crisis:
A proposed plan includes:
These measures aim to significantly reduce construction costs and help restore balance to the housing market.