Government Affairs Updates
PAUL HERRERA, GOVERNMENT AFFAIRS DIRECTOR
Federal: REALTOR® Call for Action on National Flood Insurance Program
This week, the National Association of REALTORS® launched a Call for Action asking members of Congress to reauthorize the National Flood Insurance Program. The NFIP is a crucial program that makes homeownership possible for millions of Americans across the country.
Without the NFIP, those homeowners would face entirely unaffordable flood insurance premiums or no access to flood insurance at all. In either case, they would also not be able to get a mortgage to purchase their homes. In the case of flooding disasters, such as the almost unprecedented storm in Texas right now, flood insurance may be the only lifeline that allows devastated communities to rebuild.
Please help us by asking lawmakers to reauthorize the NFIP. The Call for Action is available at http://bit.ly/2iql7ht. It only takes a few moments to send your message to your representative in Congress.
State: REALTORS® Support Options to Build More Housing, Address Affordability Crisis
Over the next few weeks, California lawmakers will tackle several pieces of legislation designed to make it easier to build homes, particularly for working class families and lower income households in California. Almost all parties agree that the current affordability problem in California is driving out middle class families, hurting the state’s economy and creating an untenable situation for all Californians going forward. It’s not clear that even the current legislation will make the impact necessary to fix the issue, but there’s little doubt that it represents real progress.
The legislative options vary in detail, but point in the same direction. When local communities consistently fall short in meeting goals for new housing, particularly housing affordable to working families, that were set locally, there would be greater tools to push for fast track permitting and decision-making. This would lower barriers to construction and ultimately help address the supply problem. IVAR will be tracking the legislation closely to support market-based solutions to the growing affordability crisis.