WASHINGTON (May 12, 2015) – The path to opportunity has always been, and will continue to be, paved by homeownership and the benefits it affords to families and communities, U.S. Housing and Urban Development Secretary Julián Castro told a packed ballroom of Realtors® and guests this afternoon while participating in a fireside style chat with NAR President Chris Polychron during the Realtors® Legislative Meetings & Trade Expo.
“Homeownership has always been central to the American Dream. I have zero doubt that homeownership will be as important in 50 years as it is today and that Realtors® will continue to help families own a home of their own,” said Castro.
HUD opened its doors during the Johnson administration in response to the challenges of urban life. Fifty years later, the agency remains committed to its core values of inclusive growth, shared responsibility and equal opportunity.
“Realtors® and HUD have a great partnership,” said Polychron, executive broker with 1st Choice Realty in Hot Springs, Ark. “Over the years we’ve worked together to advocate for the Federal Housing Administration and the Fair Housing Act, and most recently Secretary Castro joined us for a conversation about access to credit and alternative credit scoring models.”
Secretary Castro cited access to credit as the greatest challenge currently facing HUD and homebuyers. “Today, in 2015, for many hardworking, responsible, middle-class Americans, it is too tough to get a home loan. HUD is working hard to encourage homeownership while ensuring that consumers are protected from the risky lending practices of the past,” said Castro.
Castro praised Realtors® for their powerful civic engagement and encouraged the group to share their stories and their clients’ with members of Congress this week.
The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing more than 1 million members involved in all aspects of the residential and commercial real estate industries.
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