Speaking at a recent forum, National Association of Realtors president Ron Phipps relayed that the struggling housing sector needs to remain the nation's top priority.
Phipps explained that homeownership affects all Americans and that a recovery in the housing sector could prompt better economic times.
"As the leading advocate for homeownership, Realtors know that issues like affordable financing, natural disaster insurance, the mortgage interest deduction and foreclosures and short sales don't just affect people who own a home - homeownership shapes communities and strengthens the nation's economy," said Phipps.
Phipps advocated for stronger public policies that promote responsible and sustainable homeownership, which may help stabilize the market and support an economic recovery. He believes that legislative and regulatory help in the form of homeownership tax benefits may spur more real estate purchases and ease the nation's consumer tension.
Furthermore, allowing more consumers to receive home loans, especially considering their record-low rates, may also provide a boost for the sector.
The Houston real estate market is one of many examples that show how a better sector can improve consumer conditions. The region has recorded several straight months of higher home prices and greater real estate sales.
Courtesy of 2M Realty News