Realtors(R) Urge Congress to Take Action to Stabilize the Housing Market

WASHINGTON, May 14 /PRNewswire-USNewswire/ -- A sound and dynamic real
estate industry fosters communities and sustains and stimulates the
national economy. That is the message that more than 9,000 Realtors(R) are
taking to Congress during the National Association of Realtors(R) Midyear
Legislative Meetings & Trade Expo today.

As the leading advocate for homeownership and housing issues,
Realtors(R) believe Congress should act promptly to pass important housing
stimulus legislation being considered in both the House and Senate. NAR is
advocating modernizing Federal Housing Administration programs, reforming
overall regulation of the government-sponsored enterprises (Fannie Mae and
Freddie Mac), establishing a first-time home buyer tax credit, and making
the temporary increases to the conforming loan limits established by the
Economic Stimulus Act of 2008 permanent.

"This is a critical time for many families, for communities and for the
nation's economy," said NAR President Dick Gaylord, a broker with RE/MAX
Real Estate Specialists in Long Beach, Calif. "We are hopeful that Congress
will work together to get a comprehensive housing stimulus bill passed
quickly and sent to the president for his signature."

Another issue exacerbating the housing market is the increasing cost of
property and casualty insurance for both residential and commercial
properties. In response, Realtors(R) are urging their members of Congress
to improve access to affordable property and casualty insurance as well as
flood insurance. In addition, Realtors(R) will also address the need for
affordable health insurance for small business owners and the
self-employed, and ask for legislators' support for a new approach to
health insurance.

The National Association of Realtors(R), "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 http://www.realtor.org. This and other
news releases are posted in the Web site's "News Media" section in the NAR
Media Center.

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



See Also

• Webcast Alert: IRSA Announces Third Quarter FY 2008 Results Conference Call
• Empire Realty Investments Enters Maryland Rental Market with Purchase of Two Upscale Apartment Buildings
• BIRDVIEW Technologies Sees Surge In On-line Home Buyer Activity

Source: Real Estate Newswire