Top RE Industry Players Discuss Affordable Housing

NAR and other real estate groups met at the White House Wed. for a “candid discussion” on construction, zoning reforms, financing expansion and tax incentives.

WASHINGTON – National Association of Realtors® (NAR) President Leslie Rouda Smith participated in a White House meeting with a diverse group of housing industry leaders Wednesday.

The group met to explore viable solutions to the nation’s housing supply and affordability crisis. The discussion covered legislative, administrative, private sector, and state and local actions to address housing supply and affordability challenges across the country.

National Economic Council Director Brian Deese, Domestic Policy Council Director Ambassador Susan Rice, Housing and Urban Development Secretary Marcia Fudge and Federal Housing Finance Agency Director Sandra Thompson represented the Biden Administration in discussions.

“This was a candid discussion of ideas about how to fill the historic 5.5 million housing unit gap in the United States,” says Rouda Smith. “Housing supply is the number one issue for millions of consumers … locked out of the market. I conveyed to the Administration and my colleagues our support for a comprehensive plan that includes investment in new construction, zoning reforms, expansion of financing, and tax incentives to spur investment in housing and convert unused commercial space to residential.”

The White House invited leaders from a diverse group of housing industry organizations, including the Mortgage Bankers Association, National Association of Home Builders, National Housing Conference, National Multi-Housing Council, National Low Income Housing Coalition, National Fair Housing Alliance, Bipartisan Policy Center and Affordable Housing Tax Credit Coalition.

“Discussions like this are critical to raising awareness about housing affordability,” adds Rouda Smith. “Middle-income, first-time and first-generation homebuyers feel the most impact of this supply shortage as they face greater obstacles in the current economic climate. We look forward to continuing discussions with the Administration, policymakers and our industry partners to advance viable reforms that have a lasting impact on the housing market.”

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