Maurice Read* recognized the 1960s and approaching '70s as a time of many changes in the American city. "Most dramatic in the changing climate for real estate is the change in the American city. . .the new dynamics of urban expansion are shifting from the steady spread of a central mass to the formation of satellite cities beyond the open, and even rural areas adjacent to the central cities," Mr. Read said.
Nineteen hundred and sixty-five, the year of his presidency of NAREB, was a successful year for real estate.
"Competition between new construction and the existing inventory of structures has increased steadily and will sharpen even further," said Mr. Read. "The ample supply of conventional mortgage funds has sharpened competition among lenders and caused a narrowing of price differentials between loans. . ."
He entered the presidency of NAREB with a solid background in every aspect of real estate. He was employed immediately after graduation from college by Mason-Duffie Co., one of the oldest and largest real estate firms on the Pacific Coast. He served several years as general manager, and as president of the company's subsidiary corporations. The firm is active in all phases of real estate from brokerage to mortgage financing to land development and management.
Mr. Read opposed heavy real estate sales tax and said, "Real estate already is conceded to bear a disproportionate share of the cost of local government services." When government proposed a sales tax on real estate after a federal stamp tax repeal, Mr. Read argued , "State action that would lead over the federal tax that is being removed, and supplant it with a sales tax on real estate should be opposed by real estate organizations as a major threat to the stability of property ownership."
He also encouraged stricter real estate licensing laws and campaigned for policy changes in the matter.
Mr. Read held an impressive record of services to NAREB including a term as vice president in 1956. He was a member of the REALTORS® Washington Committee, the License Law Committee, the Education Committee and the Committee on Real Estate Economics and Research. He was also the first member of the California Real Estate Commission to be appointed to a fourth four-year term.
Source: Presidents of the National Association of REALTORS®, (Chicago: NAR, 1980).