Industry NewsMarkets & Economy

What will NAR be focusing on for the next 12 months?

Trade group's president, its chief economist and the SF Fed president share their thoughts

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

ORLANDO -- The incoming 2017 President of the National Association of Realtors (NAR), Bill Brown, had strong words about the state of homeownership in the United States today at a media briefing at the NAR annual conference and expo in Orlando. "It isn't fair, and it needs to be addressed," said Brown, discussing the barriers to homeownership for first-time buyers in particular. "The good news is that we have a very clear picture of the challenge at hand," Brown said. "Home prices are rising at a time when high rent, student debt and other factors are making it hard to save for a down payment. On top of that, credit is tighter than ever." "We also know that millions of Americans, particularly minorities, immigrants or simply low-income households," tend to avoid debt and therefore don't build credit, he added, and that some credit rating models exclude on-time rent payments and utility payments. "The result is stiff competition" for buyers, he said. "As President of NA...