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."
To read the comments in their original context... please click here.