NAR Asks Congress to Protect Rural Housing
May 14, 2012
NAR, in coalition with the Mortgage Bankers and Home Builders, wrote to Congress this week and asked them to save rural communities from losing rural housing programs.
Due to the 2010 census, many communities are losing eligibility for rural housing programs because their populations have grown. Congress set the definition of "rural" in 1974, and it has not been updated. The letter urged Congress to grandfather existing communities, and to also update the existing definition to account for population growth.
The Senate Agriculture Appropriations bill includes a one year grandfather provision. Members if Congress are also considering including a longer grandfather clause and/or a definition change as part of the Farm bill.