The Locomotive That Pulls The Economic Train…

“Real estate is the locomotive that pulls the economic train here in [fill in your market area]…” As a Spokesperson Trainer, who has helped thousands of REALTORS be better communicators, there hasn't been a workshop or seminar where I haven't urged attendees to use that quote, believing it to be the truth. A recent report from the New America Foundation corroborates my belief. According to the group, the housing market could become the engine that pulls our economy out of its ditch (they claim it put it there but to blame real estate alone after the fiasco of Wall Street is quite unfair).

New America Foundation's Patrick Doherty, along with Christopher Leinberger in a provocative cover story in the latest issue of the  Washington Monthly, wrote that a “vast wave of new demand for housing is coming… thanks to an epic demographic convergence. Baby boomers, the biggest demographic bloc in the country, are looking to downsize as their nests empty and retirement looms, while their children, the similarly numerous millennial generation, will soon want to purchase their first homes.”

They continued, “… but more walkable neighborhoods could be built (and quickly, argue the authors) if the next Congress will act — for instance, by shifting federal transportation dollars from highways to mass transit. Despite what Republicans might think, such actions would not increase the deficit, but would instead draw hundreds of billions of private investment dollars now sitting on the sidelines back into the productive economy, creating millions of jobs and neighborhoods that are healthier, more energy-efficient, and in line with the way more and more Americans actually want to live.”

It is so nice to read what I've felt for many years has been right in front of our collective faces — that a ‘New Deal-like' push toward GREEN, sustainability and energy efficiency is THE way to make America strong again, employ millions and save our economic present — and future. Thoughts?