Overnight News: DOJ sues NAR. Nothing that matters changes. Redfin rejoices.

I saw Housing Wire’s story on the Department of Justice’s anti-trust suit against the National Association of Realtors, and I thought: “Yeehaw!”

But then I read Glenn Kelman’s odd rejoicing, and I realized that the “lawsuit” is a done deal, and nothing that matters will have changed.

Vide: From now on we will tinker at the margins about how Buyer’s Agent’s commissions are disclosed – but we will not have changed the idiotic way Buyer’s Agents are compensated. Kelman thinks that will make things less confusing.

What’s worse, the “settlement” does nothing about the NAR’s actual, ongoing anti-competitive practices. Cartels are bad, ab initio, and requiring membership in a political advocacy group to gain access to a monopoly market is abhorrent to two fundamental American ideals – freedom of conscience and the freedom to trade.

What’s better? No matter who “wins” this election, Federal courts are all much friendlier to anti-trust cases. And a Biden NFPB will make a beeline for the 1099 safe-harbor exclusion: Wage slaves are union members are Democrats. I’m hoping for a kinder, gentler NAR for 2021.

So strong my hope, me here yesterday:

Greg Swann: Making the case for my manumission – and yours? – from the #NAR.

And elsewhere:

Housing Wire: DOJ sues NAR for alleged antitrust violations.

Glenn Kelman: The Truth Comes Out.

The Department of Justice: Settlement Will Increase Competition to the Benefit of American Homeowners and Homebuyers and Allow for Innovation in Brokerage Markets. Ahem. Read the fine print: I think the actual consequential change will be that MLS’s won’t be able to lock non-members out of their proprietary lock boxes. Everything else is disclosure and its enforcement, with no change in how Buyer’s Agents are compensated – no change in the inverted incentives warping them to better serve the Seller’s interests, rather than the Buyer’s. Dumping the whole monopoly is the right thing to do, but next on the list would be aligning the interests of Buyer’s Agents with their Buyers.

CNBC: October existing home sales see ‘spectacular’ 26.6% annual gain even with short supply and surging prices.

Housing Wire: The housing market is hot, but not in a bubble.

CNBC: 12 million Americans set to lose unemployment benefits by year’s end.

Mollie Hemingway: Democrats And Media Are Reaping Fruit Of 4 Years Of Anti-Trump Conspiracy Theories.

American Greatness: Giuliani Scorches Media For Censoring Mounting Evidence of Election Fraud And Condoning Threats Against Lawyers and Witnesses.

City Journal: The Child-Neglect Pandemic: Remote schooling is taking a toll on kids everywhere, but especially those in vulnerable domestic situations.