Realogy CEO works on housing fixes

Richard A. Smith, president and CEO of Realogy Corp., is leading a housing task force for a business organization that will explore challenges facing U.S. homeowners.

The Housing Working Group of the Business Roundtable organization is expected to deliver recommendations within 60 days to the Obama administration and Congress for a housing recovery.

Group members include: Thomas C. Nelson, chairman, president and CEO of National Gypsum Co.; Stephen Odland, chairman and CEO of Office Depot; Daniel Fulton, CEO of Weyerhaeuser Co.; and Jeff Fettig, chairman and CEO of Whirlpool Corp.

"Since housing-related industries account for more than 20 percent of the U.S. gross domestic product, the recovery of the residential housing market is vital to the recovery of the U.S. financial markets and the overall economy," Smith said in a statement.

"Stimulating the housing market from a demand-side perspective is key to putting America back on the path to economic growth. Business and government must work together to find immediate and long-lasting solutions that address the challenges facing the U.S. economy." Realogy's company-owned and franchise brands include Better Homes and Gardens Real Estate, Century 21, Coldwell Banker, ERA Real Estate and Sotheby's International Realty, among others.

Business Roundtable is an association of CEOs for U.S. companies that together represent more than $5 trillion in annual revenues, 10 million employees, and about one-third of total private research and development spending ($70 billion) per year.

--Katie Ramsey

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