Several officers and representatives of the Central Oregon Association of Realtors (COAR) traveled to
The purpose of the meetings was for NAR members to take an active role in advancing the real estate industry, public policy and the Association. In addition, each state had the opportunity to participate in Congressional Hill visits to discuss issues impacting the real estate industry and the buying and selling public.
“There are several legislative issues on the table that could negatively impact real estate, the economy in Central Oregon and across the nation, including bills to change or eliminate the Mortgage Interest Deduction (MID),” according to Bill Robie, COAR government affairs director. “We went to the Capital to protect the American dream of home ownership, and the resurgent growth of our economy.”
“Any reduction in the mortgage interest deduction is the same thing as an income tax increase. That’s something the economy simply can’t afford as we start to climb out of one of the most challenging recessions in history that significantly distressed housing values,” says COAR President Mike Warren II. “Realtors have a longstanding history of protecting homeowners and prospective buyers within the real estate market by opposing efforts to eliminate tax incentives, such as the MID. With the recent decline of housing values during the recession, our goal should be to find legislative solutions that preserve housing affordability and allow
According to Robie, “The potential impacts of this legislation would impact the entire economy by making home ownership more expensive, and creating disincentives for property ownership; since housing IS the Central Oregon economy, diminishing or eliminating the MID would hurt the economy…period.”
Attending the mid-year meetings in
