The CALIFORNIA ASSOCIATION OF REALTORS® participated in the 2013 California Summit hosted by the Milken Institute —a global think tank headquartered in Santa Monica. This high-profile event convenes some of California's most influential thought leaders to advance innovative economic and policy solutions, and among the speakers for this invitation-only Summit was CEO Joel Singer, who joined a long list of distinguished guests to address and solve the state's most crucial challenges. Also, for the first time, C.A.R. played an integral role at the Summit by helping to shape a special session on housing finance. At this panel, Singer represented the voice of California REALTORS® and their interests when it comes to finance reform.
Stay tuned for the release of a special report about the housing finance discussion, which will feature insights shared by Singer and the other panelists. In collaboration with the Milken Institute, C.A.R. will share this report with its entire membership and industry stakeholders. The involvement of Singer and C.A.R. at this prestigious event reflects the goals of the new Thought Leadership program, as we plan to take an ever-increasing role in shaping the future of the industry through intellectual engagement and active dialogue.
C.A.R.’s new Thought Leadership program helped to facilitate this panel and Singer’s involvement as a lead discussant. The panel emphasized California's importance to the national housing market and examined directions for future policy. Discussion delved into reforming the GSEs while developing alternative sources of mortgage financing; lending practices and regulation; and affordability along with the merits of preserving widespread access to homeownership.
Singer joined the following panelists to discuss housing finance: “Claudia Cappio, Executive Director, California Housing Finance Agency; Dwight Jaffee, Professor, Haas School of Business, University of California, Berkeley; Steven Mnuchin, Chairman and CEO, OneWest Bank; and Phillip Swagel, Senior Fellow, Milken Institute; Professor, University of Maryland School of Public Policy.