Washington, DC, September 22, 2011
The following is a statement by National Association of Realtors® President Ron Phipps.
As the Republican presidential debate kicks off tonight in Orlando, the National Association of Realtors® Home Ownership Matters bus tour will be onsite to remind candidates how important home ownership is to the economic and social fabric of our country.
U.S. public policies have long supported home ownership because it contributes to stable communities, supports our nation’s economy, and helps families build wealth. Removing this support would erode the ability of many Americans to establish and build their futures through home ownership.
One benefit under recent scrutiny has been the mortgage interest deduction. The ability to deduct the interest paid on a mortgage can mean significant savings, particularly for the primarily middle-class Americans who benefit – 65 percent of families who claim the MID earn less than $100,000 per year. In this tough economy, those savings can make a big difference, and any changes to the MID could put home ownership out of reach for many Americans.
There’s no question we’re dealing with difficult issues when it comes to the future of the housing market and our nation’s economy, but in the process, we must not lose sight of the values that helped make our country strong in the first place. NAR is committed to working on behalf of America’s hard-working families to ensure that anyone who is able and willing to assume the responsibilities of owning a home has the opportunity to pursue that dream, now and into the future.
The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries.
Information about NAR is available at www.realtor.org. This and other news releases are posted in the News Media section.
REALTOR® is a registered collective membership mark which may be used only by real estate professionals who are members of the NATIONAL ASSOCIATION OF REALTORS® and subscribe to its strict Code of Ethics. Not all real estate agents are REALTORS®. All REALTORS® are members of NAR.