NAR Hails Passage of Economic Stimulus Package to Help Jumpstart Housing Market
The National Association of Realtors® congratulated the U.S. Congress for quickly passing a national economic stimulus package and thanked President George W. Bush for his leadership and willingness to promptly enact legislation that will help thousands of families, the housing market, and the U.S. economy.
“We believe the economic stimulus bill that Congress sent to the president today is strong legislation that will quickly impact the nation’s families and economy,” said NAR President Richard Gaylord, a broker with RE/MAX Real Estate Specialists in Long Beach, Calif. “We are pleased that both the Federal Housing Administration (FHA) and the Fannie Mae and Freddie Mac (GSE) loan limits have been increased, even if only temporarily. This will be a major stimulus for the housing industry and for people who want to own a home.”
Housing Incentives Key To Success Of Stimulus Package
January 24, 2008 - In a full-page ad in USA Today and letters to the House and Senate leadership, the National Association of Home Builders (NAHB) today called on Congress to make housing incentives a key part of any economic stimulus package being crafted on Capitol Hill.“Any stimulus plan needs to address the housing downturn in order to stabilize financial markets and get the economy moving forward,” said NAHB President Brian Catalde, a home builder from El Segundo, Calif.
In addition, Catalde urged Federal Reserve policymakers to enact further interest rates cuts when they meet at the end of the month to restore confidence and increase liquidity in the financial markets.