The panel, "From Washington to Main Street: State and Local Impacts of the 21st Century ROAD to Housing Act," examined how state and local governments, REALTOR® associations, and housing stakeholders can leverage new tools within the legislation to address housing supply and affordability challenges. Speakers emphasized that many of the law's provisions will require action at the local level to achieve their intended impact.
Drew Myers, NAR's state and local policy representative moderated the panel and stressed the importance of the variety of perspectives represented. "While the 21st Century ROAD to Housing Act is a federal package, implementation of this happens at the local level. State governments and local governments will play a major role in this process."
Elaine Weiss, Senior Policy Advisor for Federal Financing and Housing for NAR highlighted several provisions expected to have near-term significance, including expanded flexibility for Community Development Block Grant funds, reforms related to manufactured housing and updates to FHA multifamily loan limits. Weiss also pointed to a new NAR resource, The ROAD Ahead: Implementation of the 21st Century ROAD to Housing Act,pdf which provides state and local REALTOR® associations with guidance on implementation timelines, housing provisions and advocacy opportunities.
Paul Richard, a New Orleans-based commercial real estate professional who is a REALTOR® further highlighted the importance of educational materials, saying “I really think it's incumbent upon NAR to educate us in terms of what this bill does and how we as a community, as a business community, brokers, as REALTORS® and board members, whatever, how we can then take pieces and parts of this and communicate that this needs to happen at your level.”
Throughout the discussion, panelists stressed that implementation will depend on coordination among local governments, planners, builders, and housing advocates. Lauren Lowery with the National League of Cities emphasized the importance of preparing communities to take advantage of funding opportunities and new policy tools.
Weiss said REALTOR® associations can play an important role in helping communities understand the new law and identify opportunities to increase housing supply. By working with local officials and community partners, REALTORS® can help connect federal policy changes to local housing needs and implementation efforts.
The discussion builds on years of collaboration among housing stakeholders working to advance supply-focused solutions. As implementation of the 21st Century ROAD to Housing Act moves forward, panelists agreed that continued partnership between local governments, planners, builders and REALTORS® will be critical to turning legislative reforms into more housing opportunities in communities across the country.
