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Where do NAR and NAHB stand on the debt ceiling compromise?

Photo of the White House by Mark Skrobola.

NAR weighs in

On Friday, the National Association of Realtors issued a statement as lawmakers worked diligently to achieve a compromise on the debt ceiling.

NAR President Ron Phipps said, “The National Association of Realtors®, on behalf of its 1.1 million members, their clients and customers, and the nation’s 75 million homeowners, urges Congress to resolve the mounting debt ceiling crisis before the August 2 deadline.

“Until a resolution is reached, Congress will be unable to address the myriad issues facing the nation’s families, communities, and economy. The indecision in Congress is paralyzing progress on other fronts, and it is harming home buyer confidence and negatively affecting home sales.

“Realtors® sincerely hope that members of Congress can come together on this issue so that the country can move forward toward a housing and economic recovery.”

NAHB weighs in

Bob Nielsen, chairman of the National Association of Home Builders (NAHB) and a home builder from Reno, issued a statement on August 1st regarding the proposed debt ceiling agreement announced by President Obama and congressional leaders.

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“The National Association of Home Builders appreciates the hard work by the White House and Republican and Democratic congressional leaders to craft a bipartisan compromise to resolve the debt ceiling crisis. We urge Congress to move quickly to pass this agreement. It will help to put our nation’s fiscal house in order and provide greater certainty to the business community so they can start hiring again and get our economy on firmer footing.

“The nation’s home builders stand ready to do their part to aid in the economic recovery. Building 100 single-family homes generates more than 300 jobs, $14.5 million in salaries and wages, and $8.9 million in federal, state and local tax revenue. As the economy continues to mend, restoring the health of the housing industry is essential to putting America back to work.”

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18 Comments

18 Comments

  1. Joe Loomer

    August 2, 2011 at 5:12 am

    NAR and NAHB were singing a different tune in April, and with over 1 million foreclosures kicked into 2012 (see Realtor.org), this can has to stop being kicked further down the road at some point. I'm thinking that time will be somewhere around the middle of November of 2012.

    Navy Chief, Navy Pride

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