Letter to the NAR Opposing H.R. 2454

July 3, 2009

ATTN: National Association of Realtors
c/o Mr. Austin Perez
via email

Dear Mr. Perez,

As a Realtor, I appreciate all of the NAR's efforts in advocating the real estate industry. I'm actually involved in several Realtor organizations including RCA, SIOR and CCIM. I write you today in regards to the American Clean Energy and Security Act, H.R. 2454, that was passed by the House of Representatives on June 26th. The National Association of Realtors has made some positive changes to this bill especially from the residential perspective. Please keep up the good work. However, if this legislation is passed into law, it would be absolutely disastrous to the commercial real estate industry.

For the past 15 years, I have specialized in Miami's industrial real estate market. My customers are in manufacturing, trucking, distribution, international importing & exporting, etc. Many are struggling as it is right now and some work only four of five days a week to keep operating expenses down. This Act would increase energy expenses to the extreme extent of disabling these industries indefinitely. If their business suffers, the commercial real estate market suffers. The lower the demand for warehouse space, the worse it will be for us commercial Realtors.

In President Obama's own words "Under my plan of a cap and trade system, electricity rates would necessarily skyrocket." In my opinion, our collective industries cannot bear the burden of these increased transportation, fuel and electrical costs in addition to the new taxes from this Act. The higher energy costs and regulations will make Americans less competitive in the global market and jobs will be lost, not gained.

I encourage the NAR to oppose HR 2454 and any other legislation that imposes higher taxation and costs onto American industries. Let's work to promote the liberalization of energy policies which includes lower taxation and energy costs.

Thank you very much for your consideration.

Edward J. Redlich, SIOR, CCIM Vice President
ComReal Miami, Inc. Commercial Real Estate Services
8725 NW 18th Terrace, Suite 105 Miami, FL 33172