Trade group advocates for 'housing and community' bank

The premier event for luxury agents and brokers
Luxury Connect | Oct. 16-18 | Beverly Hills

Given that people of color will form 7 of 10 new households in the coming decade, a new report from the National Association of Real Estate Brokers recommends policies that will address the economic challenges of African-Americans and Latinos.

These recommendations include re-engineering the housing finance system in away that makes providing affordable mortgage credit its principal goal (which the trade group says current legislation on the table in Congress does not do); ensuring that an adequate supply of credit for rental housing is available; and establishing a housing and community infrastructure bank to jumpstart investment, particularly in hard-hit communities, to rebuild neighborhoods, create jobs and stimulate the economy.

Source: National Association of Real Estate Brokers (NAREB)