REALTOR® Advocacy Blitz Helps Avert Government Shutdown, What You Need to Know, Success Stories, and More
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| October 10, 2023 |
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| REALTOR® Advocacy Blitz Helps Avert Government Shutdown |
| There’s no other grassroots organization in the country that can mobilize like REALTORS®. We saw the power of our unmatched operation in action as a government shutdown loomed at the end of September – and with it, the potential for a devastating lapse of the National Flood Insurance Program (NFIP). Read more about how REALTOR® advocacy helped avert a shutdown, and the work still ahead of us as we face a new deadline in November. |
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| About 87% of the nation’s 1.5 million REALTORS® are classified as independent contractors. The Direct Seller and Real Estate Agent Harmonization Act (H.R. 5419), introduced in the House last month and supported by NAR, seeks to amend the Fair Labor Standards Act of 1938 to clarify the definition of “employee” by incorporating the Internal Revenue Code recognition of direct sellers and qualified real estate agents as independent contractors. |
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| Congress recently introduced the SAFER Banking Act to ensure continued, safe expansion of the American economy while providing clarity for business owners, banks, and regulators in the cannabis industry. Over the past 5 years, NAR has supported congressional efforts to create a clear framework and open up access to financial services for cannabis businesses and those who provide services to them. |
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| Rafael Perez, a 2022 NAR Fair Housing Champion, shared his insights with attendees at the Congressional Hispanic Caucus Institute’s 2023 Leadership Conference last month. Perez was one of 5 panelists in a session titled “Building a Legacy: How Latino Families Can Secure Their Financial Future,” hosted by U.S. Rep. Vicente Gonzalez (TX-34) and sponsored by NAR. |
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| Housing affordability and inventory were among the biggest challenges cited for firms in the next two years, according to NAR's 2023 Profile of Real Estate Firms released last week. “With interest rates rising to more than 20-year highs, it is no surprise that the biggest current concern for real estate firms is housing affordability,” said Dr. Jessica Lautz, NAR’s deputy chief economist and vice president of research. |
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| Home buyers are facing the most difficult affordability conditions in nearly 40 years. According to two new reports from NAR, the current real estate market’s high home prices and mortgage rates, as well as limited inventory, are the top barriers to homeownership cited by REALTORS® and prospective home buyers across races and ethnicities. |
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| As of September 30, RPAC fundraising reached 81% of its national goal with more than $41 million raised at all three levels of the association, and 109% of its federal disbursements allocation goal with $10.8 million raised at the national level. RPAC has 8,492 Major Investors and 1,907 President’s Circle members, and a 34% participation rate. |
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| The REALTOR® Party At Work |
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| Addressing Fair Housing at Every Address |
| We all have a right to fair housing. Educate yourself about what it means to ensure fair housing for all. Access resources and trainings through NAR’s Fair Housing Action Plan to elevate your business practices. Start today at NAR.realtor/ACT. |
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