A
coalition
of
four
lawmakers
in
the


U.S.
House
of
Representatives
—
two
Democrats
and
two
Republicans
—
have
come
together
to
found
the
Bipartisan
Congressional
Real
Estate
Caucus,
a
group
designed
to
“support
policies
that
allow
[the
real
estate]
industry
to
prosper”
due
to
its
overall
importance
to
the
U.S.
economy.

The
group,

announced
on
Monday,
includes
Reps.
Mark
Alford
(R-Miss.),
J.
Luis
Correa
(D-Calif.),
Tracey
Mann
(R-Kan.)
and
Brittany
Petterson
(D-Colo.).
It
is
publicly
supported
by
the


National
Association
of
Realtors
(NAR),
the


Mortgage
Bankers
Association
(MBA),
the


National
Association
of
Home
Builders
(NAHB),
the


American
Land
Title
Association
(ALTA)
and
seven
other
trade
groups.

“Real
estate
represents
16%
of
U.S.
GDP,
supports
2.8
million
jobs,
and
generates
$50
billion
in
tax
revenue,”
an
announcement
of
the
caucus’
formation
stated.
That’s
why
it’s
necessary
to
establish
a
congressional
group
dedicated
to
its
needs,
the
group
explained.

Three
of
the
four
members
describe
their
previous
experience
working
in
real
estate
as
reasons
for
helping
to
form
the
group
and
pursue
goals
designed
to
support
the
industry.

“I
am
proud
to
serve
as
a
co-chair
of
the
Real
Estate
Caucus,”
Alford
said
in
a
statement.
“I
know
that
housing
is
a
key
issue
for
all
Americans,
and
especially
for
my
constituents.
Before
being
elected
to
Congress,
I
owned
a
small
real
estate
business,
so
I
know
firsthand
the
regulatory
challenges
that
realtors
face
every
day.
I’m
honored
to
be
able
to
chair
this
caucus
and
work
together
to
solve
real
estate
issues.”

Correa
also
spoke
about
his
time
working
as
a
real
estate
broker,
saying
that
the
business
helped
him
to
see
“firsthand
the
role
real
estate
plays
in
uplifting
Main
Street
and
hard-working
American
taxpayers,”
he
said.
“Our
Caucus
will
bridge
the
partisan
divide
and
push
Congress
together
to
deliver
real
estate
policy
that
will
benefit
soon-to-be
homeowners
across
the
country
and
help
so
many
families
get
one
step
closer
to
fulfilling
their
own
American
Dream.”

Mann
attributed
burdensome
regulations
and
high-cost
materials
as
deterrents
for
the
housing
market.
He
formerly
served
as
a
commercial
real
estate
agent,
which
he
believes
should
translate
well
to
the
goals
of
the
caucus.

“Real
estate
agents
and
developers
should
be
empowered
to
provide
housing
options
for
all
Americans,
generate
jobs,
and
offer
top
quality
services
for
homeowners
—
not
handcuffed
by
overreaching
federal
regulations
from
Washington,
D.C.,”
Mann
said.

Petterson
focused
on
the
way
the
real
estate
industry
can
help
to
facilitate
the
American
dream.
She
added
that
she
is
“proud
to
be
a
founding
member
of
this
caucus
as
we
work
to
champion
policies
that
will
increase
our
housing
supply
and
accessibility,
make
it
easier
to
buy
a
first
home
or
leave
a
home
you’ve
outgrown,
and
foster
a
market
that
is
beneficial
for
all.”

The
trade
groups
listed
as
supporters

praised
the
launch
of
the
new
caucus.

“Lawmakers
from
across
the
political
spectrum
are
in
overwhelming
agreement
that
this
nation
is
facing
a
housing
affordability
crisis,”
NAR
said
in
a
statement.
“Homeownership
is
a
bipartisan
issue,
and
we
applaud
these
members
of
Congress
for
forming
a
caucus
to
work
across
the
aisle
to
make
housing
more
accessible.”

MBA
also
applauded
the
creation
of
the
caucus,
saying
it
will
help
“advance
housing
policy”
for
renters
and
prospective
homeowners.

“MBA
looks
forward
to
working
with
this
bipartisan
group
to
help
more
Americans
achieve
their
dream
of
housing
choice
—
be
that
sustainable
homeownership
or
affordable
rental
opportunities,”
MBA
said.

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