Colorado REALTOR Digital Magazine July 2011 : Page 3
Who Says Homeownership Doesn’t Matter? Nearly nine in 10 Americans say home ownership is an important part of the American Dream, according to the latest New York Times and CBS News poll conducted June 24-28 of 979 adults. Overall, the majority of Americans polled also said the govern-ment should do more to help improve the housing market, and they mostly blame financial institutions for the sluggish housing market. As a real estate practitioner and leader of our REALTOR® association I am concerned about the future of real estate like everyone else. We have an opportunity to help shape the future of this industry. We need to continue to let our Congress hear our messages that “Homeownership Does Matter” and “Don’t let homeownership become just a dream for our future generations.” Some of the keys points we must continue to push by answering the “Calls to Actions” (they really do only take a few minutes and clicks of your time) when you receive them are: • Maintain the mortgage interest deduction (MID). Any change to this deduction will slow the housing recovery in Colorado. Urge our representatives of Congress to keep the MID. • Allow for reasonable down payments. The proposed 20 percent regulatory requirement for “qualified residential mortgages” will subject credit worthy bor-rowers to higher rates and more barriers to completing a successful real estate transaction. • Preserve the 30-year fixed rate home mortgage. On September 30, 2011 the cost of a mortgage could rise significantly. If this happens, many consumers will be priced out of the being able to buy a home. Even worse this could be a huge step backward for the housing industry and economy. Ensure Your Clients Have Access to Affordable Mortgages. We need to act now to make the current loan limits for FHA, Freddie Mac and Fannie Mae (the government sponsored enterprises, or GSEs) permanent. We need to spread the message beyond Congress. Enlist your clients to help contact their congressional representatives. They have a lot at stake and so do their children. Tell them how REALTORS® are actively trying to protect their rights and interests and that we are the only voice for homeowners and homeownership. page 3 | www.ColoradoREALTORS.com 90% Nearly nine in 10 Americans say home ownership is an important part of the American dream By: Randy Reynolds 2011 CAR President Learn more at www.ColoradoREALTORS.COM
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