{"id":14390,"date":"2011-04-05T18:19:16","date_gmt":"2011-04-06T01:19:16","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=14390"},"modified":"2011-04-06T07:23:00","modified_gmt":"2011-04-06T14:23:00","slug":"what-might-have-happened-if-the-nar-had-not-caused-this-economic-downturn-we-dont-know-what-we-know-is-that-the-national-association-of-realtors-was-the-sine-qua-non-cause-of-the-great-recession","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/14390\/what-might-have-happened-if-the-nar-had-not-caused-this-economic-downturn-we-dont-know-what-we-know-is-that-the-national-association-of-realtors-was-the-sine-qua-non-cause-of-the-great-recession\/","title":{"rendered":"What might have happened if the NAR had not caused this economic downturn? We don’t know. What we know is that the National Association of Realtors was the sine qua non<\/em> cause of the Great Recession."},"content":{"rendered":"

This post is grown from a comment<\/a> left by Brian Summerfield, editor of Realtor<\/em> magazine. Before I begin, I want to commend Brian for daring to show up here to debate this topic. I think he’s wrong, but the man has more guts than the people who pay him.<\/p>\n

Now then: I said:<\/p>\n

Doesn’t mean that banksters would not have come up with other flavors of larceny.<\/p><\/blockquote>\n

To which Brian replied:<\/p>\n

Greg, you toss this off as an afterthought, but I see it as a key point. You say the sine qua non of the Great Recession was NAR, but it was in fact systemic flaws in the global financial system. Without collateralized debt obligations or credit default swaps, there would have been no Great Recession. And NAR had nothing, nothing, to do with the creation of those “innovations” of finance.<\/p><\/blockquote>\n

As you, the reader, may have noted, there are people writing and commenting here who are more than unusually interested in philosophy — as a map of the universe and as a discipline of the mind. Brian’s argument turns on what normal people call “hypotheticals.” Jim Klein calls them contra-factuals, where I am apt to rave on about subjunctivity. In all three cases, we are talking about the same thing: We are making what we hope are logical claims about imaginary worlds, worlds not in evidence.<\/p>\n

The universe outside our minds has an independent and prior existence, and the objects and events that comprise that universe are real and factual existents. When I make a statement about the real world — the universe of real things — my statement is subject to independent verification. The object I claim to see is either present or it is absent. The event I claim is happening is either occurring or it is not. Disputes about statements like these are possible only to the insane or to philosophy professors — but I repeat myself.<\/p>\n

So: These things really happened:<\/p>\n

1. The National Association of Realtors either wrote or lobbied for a great host of Rotarian Socialist laws devised to churn the residential real estate market for the benefit of real estate brokers Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

This post is grown from a comment left by Brian Summerfield, editor of Realtor magazine. Before I begin, I want to commend Brian for daring to show up here to debate this topic. I think he’s wrong, but the man has more guts than the people who pay him. Now then: I said: Doesn’t mean […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[29,5,30],"tags":[],"class_list":{"0":"post-14390","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-group-therapy","7":"category-real-estate","8":"category-supplanting-the-nar","10":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":14382,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/14382\/what-does-it-mean-that-the-nar-wont-defend-itself-from-the-charge-that-it-was-the-sine-qua-non-cause-of-the-great-recession\/","url_meta":{"origin":14390,"position":0},"title":"What does it mean that the NAR won’t defend itself from the charge that it was the sine qua non cause of the Great Recession?","author":"Greg Swann","date":"April 1, 2011","format":false,"excerpt":"I threw down the gauntlet -- and not for the first time:It was the NAR that lobbied for each law and rule change that resulted in the housing boom, the sub-prime lending catastrophe, the wanton bundling of fraudulent loans, the on-going subsidization of the secondary mortgage market, etc. The villain\u2026","rel":"","context":"In "Disintermediation"","block_context":{"text":"Disintermediation","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/disintermediation\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":14354,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/14354\/whats-the-best-thing-the-national-association-of-realtors-can-do-for-the-american-economy-it-could-drop-dead-but-it-wont-so-heres-how-you-can-kill-it-instead\/","url_meta":{"origin":14390,"position":1},"title":"What’s the best thing the National Association of Realtors can do for the American economy? It could drop dead — but it won’t — so here’s how you can kill it, instead.","author":"Greg Swann","date":"March 29, 2011","format":false,"excerpt":"Hey there, toothy-grinned, glad-handing Realtor: How's the world treating you? Business is not so good? Your house is worth less than half of what you paid for it? Your kid has three degrees but can't get a job? Are you looking for someone to blame for your troubles? Guess what?\u2026","rel":"","context":"In "Big Mother"","block_context":{"text":"Big Mother","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/big-mother\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3239,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/3239\/bloodhoundblog-evangelism-how-by-working-together-we-are-going-to-reinvent-real-estate-representation-convert-the-best-real-estate-professionals-to-the-wired-life-and-put-the-bums-out-of-the-busin\/","url_meta":{"origin":14390,"position":2},"title":"BloodhoundBlog evangelism: How, by working together, we are going to reinvent real estate representation, convert the best real estate professionals to the wired life and put the bums out of the business","author":"Greg Swann","date":"June 17, 2008","format":false,"excerpt":"First, this is important: The easiest way to get someone to BloodhoundBlog is to type \"BloodhoundBlog\" into any web browser. The \".com\" will be assumed by default, and BloodhoundBlog.com redirects to the full address of the weblog. If there is someone you work with whom you would like to see\u2026","rel":"","context":"In "Blogging"","block_context":{"text":"Blogging","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/blogging\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1964,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1964\/can-the-nar-improve-a-buyers-financing-experience\/","url_meta":{"origin":14390,"position":3},"title":"Can the NAR Improve a Buyer’s Financing Experience?","author":"Brian Brady","date":"September 23, 2007","format":false,"excerpt":"Realtors have to stop complaining about the sorry status of the lending industry. Why? They have the power to make a difference but refuse to take action. I have often heard the Realtors' cry for licensing of loan originators and a plea for lending advisers to adopt a fiduciary capacity\u2026","rel":"","context":"In "Lending"","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":15293,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/15293\/hey-ron-phipps-i-say-the-national-association-of-realtors-is-a-rent-seeking-rotarian-socialist-conspiracy-against-the-american-consumer-can-you-offer-even-one-argument-to-refute-that-claim\/","url_meta":{"origin":14390,"position":4},"title":"Hey, Ron Phipps: I say the National Association of Realtors is a rent-seeking Rotarian Socialist conspiracy against the American consumer. Can you offer even one argument to refute that claim?","author":"Greg Swann","date":"November 9, 2011","format":false,"excerpt":"My friend and partner, the ever-more-Unchained Brian Brady, posted a Facebook link to a Wall Street Journal article on the current push by the National Association of Realtors for extended loan subsidies for the rich:To understand why 90% of U.S. mortgages are still underwritten by taxpayers, look no further than\u2026","rel":"","context":"In "Group Therapy"","block_context":{"text":"Group Therapy","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/group-therapy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":15195,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/15195\/brian-brady-makes-it-happen-bloodhoundblog-unchained-is-on-for-anaheim-friday-november-11-2011\/","url_meta":{"origin":14390,"position":5},"title":"Brian Brady makes it happen: BloodhoundBlog Unchained is on for Anaheim, Friday, November 11, 2011.","author":"Greg Swann","date":"October 6, 2011","format":false,"excerpt":"Brian Brady got us a room, may the gods whisper his name in awe. We're working on sponsorship, and I'll have speaker announcements in the coming days. Here's the big picture: BloodhoundBlog Unchained in Anaheim Friday, November 11, 2011 12 Noon to 10 pm Cortona Inn & Suites Anaheim Resort\u2026","rel":"","context":"In "Flourishing"","block_context":{"text":"Flourishing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/flourishing\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.paypal.com\/en_US\/i\/scr\/pixel.gif?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/14390","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=14390"}],"version-history":[{"count":2,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/14390\/revisions"}],"predecessor-version":[{"id":14392,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/14390\/revisions\/14392"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=14390"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=14390"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=14390"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}