This past week, members of the Greater Chattanooga Association of Realtors travelled to Washington, D.C., to lobby on the Hill with members of Congress. While in D.C., experts applauded Realtors for our commitment to keeping housing a top priority for the nation and staying engaged in the debate over future housing policies.
In addressing Realtors, Congressman Randy Neugebauer (R-Texas) revealed that members of Congress could roll out new housing reform legislation within the next month and fixing the housing market and economy is extremely important to all Americans, who will need to tighten their belts going forward.
“We need to fix our country, encourage people to invest and save more, and put Americans back to work,” said Neugebauer. “The government-sponsored enterprises Fannie Mae and Freddie Mac also need to be dialed back, because taxpayer dollars are guaranteeing nine out of 10 mortgages. It’s time to bring private capital back into the housing market.”
As the leading advocate for homeownership, the National Association of Realtors is committed to working closely with Congress and the real estate industry to design a secondary mortgage model that will serve America’s best interests today and into the future. We also strive to preserve the mission and purpose of the Federal Housing Administration’s single-family mortgage program and ensure that it has the tools and policies in place to continue providing safe, affordable mortgage financing to qualified borrowers.
Political commentator and analyst Jeffrey Birnbaum provided Realtors with a snapshot of issues currently looming in Congress, including gun control, immigration reform and the health care law, and discussed their potential impact on real estate. “Although the economy appears to be slowly coming back, the administration’s second-term agenda may have stalled,” he said. “Political winds have a tendency to suddenly shift though, so no one should take current tax policies for granted. If compelled to act, Congress could move legislation quickly on tax reform.”