The National Association of REALTORS® (NAR) brought hundreds of policymakers, academic experts and industry stakeholders together last week in hopes of finding ways to improve housing affordability across the nation.
“As America confronts low housing inventory and a persistent lack of affordable housing options, NAR was grateful to bring together some of the brightest minds in our industry at today’s policy forum,” NAR President Vince Malta said. “With housing affordability set to be one of the defining policy issues of this decade, it is imperative for NAR – along with economists, lawmakers and other industry stakeholders – to lead discussions that will generate solutions to these far-reaching problems.”
Members can login and read more.
With home prices rising faster than wages in most American markets, NAR has made housing affordability a top advocacy priority for 2020. A lower housing supply, access to credit and a racial home ownership gap are adding to the problem, NAR stated. According to a report released earlier in the year by NAR Chief Economist Lawrence Yun, housing affordability rankings have declined in 81 of 174 U.S. metro areas. And in the past five years, job growth is falling faster than the national average in 34 regions.
NAR offers members an agenda from last week’s event, copies of several presentations and a white paper on the issue “Why Homeownership Should Continue to be Incentivized by Our Federal Tax System.” REALTORS® can watch the recorded session.