Gary Thomas, President of the National Association of Realtors made comments on the steps government has taken to create a recovery in the housing market with the full support of the Association.
The administration enacted key policies to stabilize the market, recover home values, ensure access to affordable credit, and most importantly, renew faith in the value of homeownership.
“To reinvigorate home sales, NAR led the charge to pass the temporary home buyers’ tax credit, which helped millions of Americans buy a home. When private lenders fled the market and stymied access to mortgage insurance, Realtors® advocated reforms to the FHA Single-Family Mortgage Insurance Program so that it could continue to make mortgages available to qualified home buyers. To protect future home buyers from unscrupulous lending practices, NAR continues its work with the administration and Congress to develop new lending standards that create opportunities for private capital to re-establish itself as part of a robust and competitive mortgage market.”
The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1 million members involved in all aspects of the residential and commercial real estate.