Jack Thompson spoke to the club about mortgage banking and the real estate market.  He said there is a housing shortage of 3-4 million homes which began in 2009-2010.  It was hard for builders to get loans for the next ten years.  This contributed to the rapid rise in real estate values around the country.  Venture capitalists began buying up thousands of homes and using them as rental property which contributed to the housing shortage.  When rates were 7-8 percent, people couldn't qualify.  If rates hit 5 percent, housing demand should soar.  The US needs to build one million houses a year to catch up with demand.

Our Boy Scout Troop that we support is growing.  There are two new Eagle Scouts and two Eagle Scout candidates that are interested in working on Ramps as their project..The scouts also support the club last year with the Balloon Park cleanup so we should invite them to do so this year on the 28th.