Source: Housing Wire —
The U.S. residential real estate economy as we know it is far from cooked, but a judge has turned on the front burner.
Stephen Bough, a judge for the federal court in Kansas City, Missouri certified a class action lawsuit in a written ruling Friday that makes “hundreds of thousands” of U.S. housing consumers the plaintiff in a now potentially historic case.
The defendants? The National Association of Realtors – the trade group that purports to represent real estate businesses, agents, and consumers – and arguably the four biggest companies in residential real estate: Realogy, Berkshire Hathaway HomeServices of America, RE/MAX, and Keller Williams.
NAR responded to the ruling Monday, and the trade group says it plans to appeal the decision.