Realtors in a ‘defensive position’ on Capitol Hill

Mortgage interest deduction, other homeowner tax breaks are all 'on the table'

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

WASHINGTON -- An army of Realtors got their marching orders this morning at a federal priority issues briefing at the National Association of Realtors' Midyear Legislative Meetings and Trade Expo. Three issues topped the trade group's agenda: preserve real estate-related tax deductions in the face of calls for tax reform; leave the Federal Housing Administration alone to recover; and restructure Fannie Mae and Freddie Mac in a way that encourages the return of private capital to the secondary mortgage market. Both chambers of Congress have seen double-digit turnover rates in recent years. Thus, Realtors will need to educate members of Congress about why housing is important and turn members' attention to what homeownership does for communities, said Jerry Giovaniello, NAR's government affairs senior vice president. "The path to recovery runs through our front door," he said. In contrast to prior years, this year Realtors are not pushing Congress to support particular legisl...