THE USA NEEDS A "CAR MAX" FOR THE HOUSING INDUSTRY

CAR MAX:

Corporate Profile

CarMax, a FORTUNE 500 company, and one of the FORTUNE 2008 "100 Best Companies to Work For," is the nation's largest retailer of used cars. Headquartered in Richmond, Va., CarMax currently operates 99 used car superstores in 46 markets. The unique CarMax consumer offer provides our customers the opportunity to shop for vehicles the way they shop for items at other national retailers, and it is structured around four customer benefits: low, no-haggle prices; a broad selection; high quality vehicles; and a customer-friendly sales process. During the fiscal year ended February 29, 2008, the company retailed 377,244 used vehicles and sold 222,406 wholesale vehicles at its in-store auctions.

THE HOME-INDUSTRY NEEDS THIS RETAIL APPROACH APPLIED TO THE DEPRESSED HOME INDUSTRY:

A LARGE RETAILER WHO CAN BUY A LARGE PORTFOLIO OF HOMES AT LARGE DISCOUNTS AND THEN SELLING THEM AT BARGAIN PRICES.

ONE STOP SHOPPING.

WHY NOT WAL-MART!?

WHEN YOU THINK ABOUT IT, BUYING AND SELLING HOMES IS ONE OF THE LEAST CENTRALIZED MARKETS IN THE NATION.

AND I DON'T MEAN WE NEED ANOTHER NATIONAL AGENCY - LIKE RE-MAX.

WE NEED AN OUTFIT THAT WILL SCOOP UP THOUSANDS AND THOUSANDS OF HOMES FROM BANKS AND THEN RE-SELL THEM. A WHOLESALE BUYER OF HOMES AND A RETAILER OF THEM.

AND IT SHOULD BE A PRIVATE COMPANY OR COMPANIES, NOT THE GOVERNMENT.