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Landmark Settlement Breaks Up the Real Estate Cartel

There are far too many goods and services for which you can say Americans pay the highest prices in the world. One of those outliers was likely put to an end last week, thanks to a remarkable settlement in a private antitrust case. The outcome shows that too many of America’s high costs are often a function of power, and that the tools to check that power and lower those costs cannot be unilaterally found at the Federal Reserve.

The National Association of Realtors (NAR) has agreed to end the age-old practice of 6 percent agent commissions for residential home sales, which is six times the level of the UK According to The New York Times, which first got the news, the settlement could drop US commission costs by as much as 30 percent, which comes out to more than $8,000 on a home sale with the average purchase price of $417,000. It’s not going to suddenly make housing affordable, although the collusive arrangement did tend to drive home prices higher. And given that real estate commissions are a $100 billion-per-year business, we’re talking about $30 billion in savings, a not-incidental amount at a time when housing costs are

Carlton North: Former Hawk Angelo Lekkas and wife Renata list renovated terrace house

280 Canning St, Carlton North - for herald sun real estate ar

Former Hawk Angelo Lekkas and his family are selling 280 Canning St, Carlton North.

Former Hawthorn midfielder Angelo Lekkas and wife Renata are handballing their much-loved Carlton North house with $2.8m-$2.95m price expectations.

Lekkas played 180 games with the Hawks across 11 seasons.

After suffering a minor stroke following a 2005 practice match, doctors feared Lekkas would suffer some form of ongoing paralysis, but he completed rehabilitation and returned to the game within months.

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After announcing his retirement later that year, he went on to become a National Stroke Foundation ambassador and AFL multicultural ambassador.

He now runs a sports coaching company for young footballers and a mortgage broking business.

Lekkas said he and Renata purchased their Victorian-era freestanding terrace house at 280 Canning St in 2002 – the same year he represented Australia in the International Rules series – fulfilling their long-held dream to live on the street.

“I don’t think you can live in a better location in Melbourne than