In an effort to generate discussion, NAR has called on the White House to host a housing summit.
“As the leading advocate for housing issues, Realtors know that home ownership supports our nation’s economy,” said NAR President Ron Phipps, who is also president of Phipps Realty in Warwick, R.I. “Housing and home ownership issues affect all Americans, which is why we need strong policies that will help stabilize the housing market and lead the way out of today’s economic struggles.”
According to NAR, housing is a key tenet of the U.S. economy, and any economic recovery will be difficult to attain without a strong housing sector (and indeed, recent data out of Texas supports that conclusion). Therefore, a “broad” discussion must take place between members of both housing and government, so all potential recommendations for recovery can be properly weighted.
“Realtors look forward to coming together and working with President Obama and his administration as well as our industry partners to design a housing recovery plan that will serve our nation, its 75 million homeowners and indeed all Americans today and into the future,” Phipps said.
Just this week, Chicago Agent has covered two such plans. The first was a “21st Century Homestead Act” that was proposed by Gary Ackerman, a congressman from New York, that emphasized new investment in housing, while the second was a plan for the government to use its various loan agencies to refinance millions of mortgages.