No new housing initiative in Bush's $150 billion stimulus plan

NAR looking for increase in conforming loan limit

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A $150 billion economic stimulus package unveiled by President Bush Friday doesn’t address a top priority of the National Association of Realtors — raising the $417,000 conforming loan limit to allow Fannie Mae and Freddie Mac to purchase “jumbo” loans.

The president’s plan to stimulate economic growth would reportedly rely on tax cuts and incentives for individuals and businesses, with about $100 billion in relief such as tax rebates targeted to families and individuals.

Although the president today renewed his calls for Congress to pass legislation modernizing Federal Housi