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NAR Urges Congress to Work on Long-Term Debt Ceiling Solution

Such a solution is needed to “maintain stability and faith in the American economy,” said NAR Pres. Charlie Oppler, following a meeting at the White House.

WASHINGTON – Following a meeting at the White House with President Joe Biden and other business leaders on the nation’s debt ceiling, National Association of Realtors® President Charlie Oppler has issued the following statement:

“NAR is encouraged by reports Congressional leaders are working on a short-term debt ceiling extension following our meeting.

“With more than $8 trillion in mortgage debt backed by the federal government, the real estate sector is highly susceptible to market instability. A debt default would unleash unnecessary and unknown harm on the economy and our 1.5 million members, most of whom are small business owners. And rising interest rates would serve a devastating blow to the homeownership dreams of countless American families.

“We encourage Congress to keep working on a long-term debt ceiling solution to maintain stability and faith in the American economy.”

Source: National Association of Realtors®

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