NAR Praises Biden's Proposals to Address Housing Affordability –Chicago Agent Magazine

Chicago Agent Magazine

The National Association of Realtors® showed its support for President Joe Biden's willingness to address affordable housing during the president's State of the Union speech Thursday. During his speech, Biden addressed a number of housing-related topics. In response, NAR President Kevin Sears issued a statement praising efforts to increase housing supply. He also raised concerns about Biden Administration regulations that could create hurdles to affordability. "NAR first sounded the alarm on this issue with original research showing a nationwide shortage of 5.5 million affordable housing units. We commend President Biden's commitment to an all-of-government approach to solve this problem. NAR has proposed and advocated for many of these proposals, which together would make serious headway toward fixing this crisis," Sears said. "Tax incentives can help close the affordable housing gap, and we are especially grateful for the President's willingness to explore new tax measures. NAR also supports an all-of-the-above approach to this crisis — from tax incentives to zoning reforms to expanded financing."

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