The following is NAR Chief Economist Lawrence Yun’s reaction to this morning’s S&P/Case-Shiller release on November home prices:
“The softening home price appreciation in the latest Case-Shiller index will continue in the upcoming months as housing inventory builds. But it is unlikely for the national median home price to actually decline given the housing shortage of moderately priced homes and from job additions in the economy. In 2019, home prices in many markets look to trail income growth for the first time since 2012. That is a healthy development of keeping housing affordability in check.”
Shannon McGahn, NAR’s Vice President of Government Affairs, issued the following statement after the EPA yesterday unveiled a proposal to change the Waters of the U.S. definition in order to clarify which waters are and are not regulated by the federal government.
“Shannon McGahn, NAR’s Vice President of Government Affairs, issued the following statement after the EPA today unveiled a proposal to change the Waters of the U.S. (WOTUS) definition in order to clarify which waters are and are not regulated by the federal government.
“Clean water is essential to life. It creates the opportunity for a healthy environment, growing economy and allows us to live in vibrant neighborhoods across this country. That’s why the National Association of Realtors® continues to support voluntary, market-based solutions that enhance the quality of our water resources while protecting private property rights.
However, as it was written nearly five years ago, the Environmental Protection Agency’s ‘Waters of the U.S.’ rule greatly expanded the federal government’s control over local land use decisions, inhibiting real estate development and economic growth in countless American communities.
“Today’s announcement brings us closer to a clear and consistent definition of WOTUS, providing much needed certainty to America’s development and real estate industries. NAR looks forward to continuing our work alongside Congress, the White House and the EPA in the joint effort to improve WOTUS, protect private property, and secure clean water for everyone in this country.”
More than 230 real estate professionals were named as “newsmakers” for their role as influencers, crusaders, and trailblazers in the industry. RISMedia, a real estate news and information service, announced its “Class of 2019 Real Estate Newsmakers,” highlighting those in the industry who have made headlines over the past year because of their newsworthy contributions to the real estate industry.
The National Association of Realtors® was well-represented, with the following named to the “Class of 2019 Real Estate Newsmakers” list:
John Smaby, NAR President
Lawrence Yun, NAR Chief Economist
Katie Johnson, NAR General Counsel
Dave Garland, managing director of Second Century Ventures, NAR’s investment arm
Charlie Oppler, NAR First Vice President
Ginny Shipe, CEO of the Real Estate Business Institute and an NAR board member
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