The President of the National Association of REALTORS®, Kevin Sears, issued a statement in response to the 2024 Economic Report of the President, which highlighted the administration’s support for increasing housing production and addressing land use barriers. Sears expressed approval of the Biden administration’s initiatives aimed at enhancing the supply of affordable housing. These initiatives include allocating resources for localities to reevaluate their zoning laws, particularly those that hinder new housing development; advocating for tax benefits to encourage the conversion of commercial buildings into residential properties; supporting regulatory measures that prompt local planning for housing production and zoning reform; aiming to reduce and streamline permitting and regulatory challenges without compromising safety and environmental standards; and promoting housing development along transportation corridors.
The National Association of REALTORS® has long championed such strategies to boost housing production and is optimistic about the administration’s focus on this critical issue. Despite the challenges posed by the significant underbuilding gap and the scarcity of affordable housing, the Association views the administration’s efforts as a positive step toward enhancing homeownership opportunities and facilitating the creation of intergenerational wealth. The Association looks forward to collaborating with the Biden administration to address the pressing concerns of housing affordability and inventory in the United States.
For the full details and insights, please refer to the original press release at the following link: https://www.nar.realtor/newsroom/nar-applauds-white-house-announcement-addressing-land-use-barriers-and-housing-production