As we go into the last weekend of 2012, Congress continues to wrestle with what to do about the fiscal cliff, the hundreds of billions of dollars in automatic tax increases and federal spending cuts that take effect at the end of the year unless Congress acts to avert it.
It's impossible to know exactly how things will play out. Negotiations will continue through the weekend, and NAR will update its members next week.
With this very fluid situation as a backdrop, NAR Chief Economist Lawrence Yun and NAR Director of Tax Policy Linda Goold discuss what real estate interests are at stake in this debate in a short video recorded Dec. 28.
Read more at REALTOR® Magazine's Speaking of Real Estate blog.