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MBA Urges Regulators To Avoid Invoking Suitability Standards
The Mortgage Bankers Association (MBA) recently made a preemptive strike against what it obviously perceives as the next threat against the mortgage industry - "suitability standards." Read more...
New Orleans Gets Big Boost From Nar
(Although it has been over a year since the devastating Hurricane Katrina, New Orleans is still struggling to get back it largest economic supporter; tourism. )
People all over know that New Orleans still needs a lot of help to repair homes, roads, medical facilities, etc, but are conflicted because their business needs first-class facilities and are afraid New Orleans will not be able to meet their needs.
Other than Las Vegas, New Orleans is the premier meeting center for business conventions, but many of those conventions keep cancelling even as the city rebuilds and is still in the need of the tourist dollar.
The National Association of Realtors (NAR) has held its annual convention in New Orleans for many years and although doubt had entered their mind, the NAR trusted New Orleans and held its conference this once again this year.
The article, "NAR Triumphs In New Orleans," written by Blanche Evans and published November 14, 2006 in Realty Times, explains how the NAR gave New Orleans just what it needed, emotional and financial support.
"Some people are still skittish about visiting New Orleans. But they shouldn't be. Over 25,000 Realtors, spouses, vendors and more agree that the people of New Orleans have a spirit that no hurricane can ever crush. After dozens of on-the-street interviews, one thing is clear -- Realtors feel like they are helping New Orleans get back on its dancing feet."
There was an overwhelming sense of gratitude issued from store owners and restaurant workers throughout the city. "Tell your friends it's okay to come back now," was a phrase that was often heard.
Many of New Orleans' biggest conventions, such as Microsoft, cancelled this year but the NAR held true to its word and both New Orleans and the real estate industry benefited as a result.
"Unlike NAR conventions in California and Florida, which are largely supported by high numbers of agents who live in or near San Francisco, Anaheim, or Orlando, New Orleans relies on its own star power to bring in more attendees."
Star power indeed. George H. Bush and Bill Clinton provided the linguistic fireworks of the weekend. Spilling joke after joke and having to pause for applause every five minutes, the two did have a similar message: to continue rebuilding the soulful city of New Orleans and to thank the NAR and all convention participants for supporting the cause.
The convention did accomplish concrete goals as well. The NAR usually completes one home annually for the Habitat For Humanity. This year they created 55 houses in New Orleans.
"In addition, Realtors helped clean up City Park, sorted books at the public library, worked on De La Salle High School, and much more. Bring back the people is NAR's goal. After all, over 40 percent of the area's economy is dependent upon tourism, along with jobs for over 85,000 people."
While running water is still in short supply and the now infamous Ninth Ward is littered with makeshift crosses of people and pets, the city is slowly regrouping.
More conventions will greatly help the city gain strength financially and emotionally.
"The fact that the largest trade association in the United States trusted New Orleans to host its record-breaking meeting, should send a resounding message to the world that New Orleans convention business is back."

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