NAR President Issues Statement Following White House Meeting on Debt Ceiling

National Association of Realtors® President Charlie Oppler issued the following statement Wednesday regarding his meeting at the White House with President Biden and other business leaders on the debt ceiling:

"NAR is encouraged 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."

The National Association of Realtors® is America's largest trade association, representing more than 1.5 million members involved in all aspects of the residential and commercial real estate industries.

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