The House passed tax reform, and NAR now looks to the Senate bill. NAR opposes both bills because they neutralize the incentive for homeownership. The House also passed long-term reauthorization and reform of flood insurance, which NAR supports. Other segments in the video look at team legal issues, the latest home sales numbers, and a new safety web product for real estate professionals.
House Republican tax reform legislation was introduced as REALTORS® met in Chicago for their 2017 Conference & Expo. NAR opposes the legislation because it will hurt homeowners. Also, a REALTOR® testified before Congress on how to improve the secondary mortgage market.
NAR opposes the first draft of the tax reform framework that the Trump Administration and Republican congressional leaders have released. It works against the interest of most middle-income homeowners. Other topics include 1031 exchanges, the best remodeling projects from a resale standpoint, and what to do after a natural disaster strikes to keep transactions on track.