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Real Estate Group Statements Back Biden Housing Plan

NAR President Oppler says Realtors have “long advocated for many of the policies,” though the promise of 100K homes “is just a small fraction” of the 6 million needed.

WASHINGTON – Following the Biden Administration’s announcement of new housing policies to help more Americans buy or rent a home, most housing groups issued statements backing the changes.

National Association of Realtors® (NAR) President Charlie Oppler “applauded” the effort to “address America’s housing supply crisis and to prevent the expansion of corporate landlords at the expense of homeownership.”

According to Oppler’s statement, “Distressed homeowners should have the opportunity to buy-back their homes – but if not, other worthy homeowners should receive next priority. Affordable homeownership brings a magnitude of benefits to families, communities and our national economy, and now is the time to ensure we continue that support.”

Oppler noted some studies NAR commissioned that focused on housing-supply problems, noting that the latest promise still won’t make up for the current deficit.

“The administration’s plan to make available 100,000 new homes is just a small fraction of the roughly 6 million units needed to fill the gap in housing supply,” he says, though “NAR has long advocated for many of these policies. We are encouraged and grateful for the effort put forth by the White House.”

In a statement released by the Mortgage Bankers Association (MBA), President and CEO Bob Broeksmit says, “MBA strongly supports the administration’s efforts to increase the housing supply by encouraging the construction and rehabilitation of affordable apartments and homes for renters and first-time buyers. The lack of supply is a huge problem, and HUD and FHFA should do what they can administratively while Congress considers more significant initiatives.

The National Association of Home Builders (NAHB) also supports the change.

“NAHB applauds the Biden administration for its newly announced plan to increase affordable housing supply,” he says. “It’s important that the plan includes tangible policies to incentivize new residential construction. We look forward to working with the administration in the effort to boost the supply of affordable rental housing and single-family housing for America’s hard-working families.”

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