Washington Report

Advocacy Updates from Washington D.C.

The Washington Report covers legislative and regulatory policy activities, and is compiled by NAR's Government Affairs policy staff. To receive this content via email, subscribe to NAR's Weekly Report newsletter and check the "legislative & regulatory issues" box.

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HR. 1 will have large negative impacts for a wide swath of America’s residential real estate. The cap on deductible mortgage interest, elimination of the deduction for state and local taxes, and the change to the capital gains exclusion will impact large segments of the market. Low mortgage rates mask the negative effect that these changes will have on home ownership. 
HUD announced that would suspend subsidies for federally assisted housing units that did not have utilities in Puerto Rico and the Virgin Islands. The reason is because HUD requires all units to be decent, safe, and sanitary and a unit without utilities does not meet that standard.

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