SOURCE: National Association of Realtors

National Association of Realtors

June 10, 2009 11:25 ET

Realtors® Join Business Roundtable in Calling for Renewed Focus on Housing Stabilization

WASHINGTON, DC--(Marketwire - June 10, 2009) - The following is a statement by National Association of Realtors® President Charles McMillan:

"NAR and our 1.2 million members applaud the Business Roundtable for its sound policy recommendations put forth to reinvigorate our nation's housing market. The proposal they announced today is consistent with the recommendations NAR has advocated and reflects the critical need to continue efforts to bring stability to the housing market.

"As President Barack Obama, U.S. Treasury Secretary Timothy Geithner and Federal Reserve Chairman Ben Bernanke have all noted, there can be no economic recovery without stabilization in the housing market. We believe NAR's recommendations, along with those from other groups like BRT, are necessary and need to be implemented quickly.

"NAR has called on Congress and the Obama administration to expand the first-time home buyer tax credit to all home buyers, regardless of income. In addition, it is imperative to maintain mortgage interest rates below 5 percent, make the loan limit increases permanent, and strengthen foreclosure mitigation and loan modification efforts. These are all actions that BRT is fully supporting and we welcome their involvement.

"We look forward to working with the BRT and urge Congress and the administration to continue to put measures in place to reduce foreclosures and housing inventory, and stabilize home values."

The National Association of Realtors®, "The Voice for Real Estate," is America's largest trade association, representing 1.2 million members involved in all aspects of the residential and commercial real estate industries.

Information about NAR is available at This and other news releases are posted in the Web site's "News Media" section in the NAR Media Center.

REALTOR® is a registered collective membership mark which may be used only by real estate professionals who are members of the NATIONAL ASSOCIATION OF REALTORS® and subscribe to its strict Code of Ethics. Not all real estate agents are REALTORS®. All REALTORS® are members of NAR.

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