The National Association of Realtors (NAR) is ready to start flexing its political muscle, now that the Democrats will be taking charge of Congress. It appears Lereah and his friends have a plan for a bigger, better bubble, and think they have the influence to do it. According to Lew Sichelman, writing in the Realty Times:
Arguably the country’s most powerful housing lobby, the 1.2 million-member trade group sees the new Democrat-controlled Congress as a golden opportunity to pass legislation it and other industry organizations have long-favored, even with a Republican president in the White House for at least two more years.
Housing has been presented with "an opportunity to move major legislation that we haven’t had for years," Jerry Giovaniello, senior vice president of NAR’s government affairs group, said at the association’s annual convention in New Orleans earlier this month.
"We haven’t had a major housing bill since 1992. A lot of people have been left out of the 70 percent ownership rate."
