Realogy Corp. has sent a formal request to President Obama calling for a "White House Summit on Housing."
"Housing has an enormous impact on our nation’s (gross domestic product) and given its substantial influence on all aspects of the economy, we believe it warrants special attention from the White House," said Realogy CEO Richard A. Smith in a letter to the president.
The summit, he said, would emphasize "bringing together real estate business leaders to make actionable recommendations designed to stimulate the growth necessary for a sustained recovery in housing, which would have an ensuing positive effect on job creation and the broader U.S. economy."
Smith told Obama his leadership on this issue "would bring together the top business minds of the residential real estate industry at a time when practical business experience may very well offer the guidance necessary to stimulate housing, and thus the U.S. economy."