[quote=sdrealtor]
BTW, in the typical real estate resale transaction there are about 30 to 40 people involved who are compensated in some way. Then the new homeowner will typically spend money on paint, flooring, appliances, furniture, landscaping and numerous other improvements. Saying the the resale of exisitng houses do nothing for GDP translates to not understanding what really occurs.[/quote]
Not nothing, but maybe 10 to 15% of new home construction. What, maybe 10 pts on a typical sale? 6% to you guys, maybe a couple for the lender, maybe a couple more for add on crap, title insurance, the fedex guy always gets his in there somewhere.
Compared to 60 to 90% or more for new construction.
