Jim Lee of Realty Executive Associates in Knoxville, TN, wrote recently about some of the programs the National Association of REALTORS® is involved in on a national level. I think it's important to remember, as we think and act locally, that the NAR is involved in many areas regarding affordable housing. The following is an excerpt from his recent post on ActiveRain.
Here's some policy initiatives we're working on this year:
"Affordable Housing Tax Credit
NAR supports incentives to increase the supply of affordable single family housing. NAR is urging Congress to enact legislation providing a tax incentive in the form of a tax credit to developers and/or investors to enhance the supply of affordable housing that would be available for purchase.""Improving the Effectiveness of FHA
NAR is a strong supporter of the single- and multi-family programs administered by the Federal Housing Administration (FHA). However, FHA's market share has diminished considerably threatening its ability to serve its public purposes. NAR is working with the Department of Housing and Urban Development (HUD) to modernize FHA to enhance its effectiveness in today's mortgage marketplace.""Natural Disaster/Flood Insurance
NAR supports the promotion of affordable and accessible homeowners' insurance, especially in disaster-prone areas. Additionally, NAR supports reforming the National Flood Insurance Program to ensure its financial and actuarial soundness. NAR is urging Congress to enact legislation ensuring the availability of adequate, affordable homeowners' insurance to consumers in disaster-prone areas, and NAR is urging Congress to fully fund FEMA's flood map modernization program."
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