Shutdowns and Elections: What's Next for Real Estate

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- Welcome to the advocacy scoop,
the podcast that takes you

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inside the advocacy work
of the National Association

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of Realtors, connecting NAR members

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with their advocates in
Washington for a front row seat

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to the fight for public policy
that strengthens the ability

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of Americans to access property ownership.

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- Well, Shannon, last month,

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I feel like I need some dramatic music.

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Like last time on the advocacy scoop.

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Oh, the government was in a
shutdown that was two days old,

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and I said at the end of
the episode, I was like,

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we will see you next month
live in Houston, hopefully

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with the government reopen.

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So we made that promise by one day.

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- Oh, right. On top of it. On top of it.

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Well, and I recall when
we were doing the, the,

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the recording, Patrick had a ton

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of information on the history
of all of these shutdowns.

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I said, it's not gonna be that long.

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We don't need to go through
what's going to happen

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after 30 days because it's just so rare

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that something like this would happen.

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But Congress has learned its
lesson, and part of that is

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because they received hundreds

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and hundreds of contacts
from us, from you,

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from the lobbying team, from
directly from constituents on

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how the shutdown was
directly impacting housing

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programs, things like flood
insurance, income verification,

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VA loans, all of the above.

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So thank you all for getting
that information to us so

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that we could share that quickly

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and get everything up and running again.

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- Yep. And as you know, last
night, we, the, the government

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agreement that they came up with

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to reopen the government passed.

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Did, did you guys get a breaking
news email to your email?

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Did anybody see that last night?

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You got it. Okay. We're trying to

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- That guy. That guy got it. Yeah,

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- One guy.

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All right. There's it. So, so
we're gonna have to check the,

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the listserv now, but yeah, so the,

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the vote was about 8:00 PM

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and I think we had the email
going out about two minutes

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after the, the vote was gaveled down.

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So we're trying to, trying to make sure

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that we're the ones breaking
the news to our members

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and there's a now nice housing
perspective to it as well.

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But we have it, we have a deal.

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The government is reopened today.

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Traffic is back in dc So
Shannon, tell me what was in

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- This.

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Well do, let's not get too
excited. So it is open.

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We can get through the holidays,

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but the new deadline is January 30th.

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So we will have plenty
of work to do between now

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and then to make sure that
these programs do not lapse.

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One more time. This deal
also includes several

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of the appropriations bill.

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So there's this thing
called regular order,

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which is you actually pass
an appropriations bill

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that gets signed into law

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and that keeps it funded
throughout that year.

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It never happens.

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And that's why you see
these types of shutdowns.

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So the good news is that three

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of those appropriations
bills were included

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and they're going to
continue working on that.

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So yeah. And we'll be there
every step of the way.

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- Yeah. And we'll get into
that here in a second.

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But t tell me, just in the short term,

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government's reopened,
so what does that do to

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the housing programs that were affected?

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- So comes right back online immediately.

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I was talking to one of
our Dear Florida members

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who was working on A-A-U-S-D-A issue,

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and he said he hadn't heard
from his contact in several

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weeks and was wondering if
something happened to her.

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And I said, well, there was a shutdown.

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And he said, oh, well, she called me first

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thing this morning.

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So obviously that was on our
mind as a being off of work

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for a few weeks, was to
get right back to work

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and having, we both worked
on Capitol Hill and, and,

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and the administration
during these shutdowns.

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And it's very difficult for the staff

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because they know that
that work is piling up.

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And that's what's happening too
with these housing programs.

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So we see that they're back online,

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but there is a six week backlog.

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So there will be some additional delays.

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We'll see that for U-S-D-A-F-H-A and va

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and then the flood insurance policies

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of those writing those new

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policies, that's going to be delayed.

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So what we ask of you and of your clients

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and everyone you're working with is

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that if you are seeing those
specific issues, let us know.

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That's an an example where
we can call your member

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of Congress and say, this
is something that needs

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to be expedited, or can
we get to the agency

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and just make sure that it's not

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sitting at the bottom of a pile.

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So keep us informed,

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just like we did in our
call for information.

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- Yeah. And, and this was the
longest shut down in history,

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the last one being 35 days in 2016,

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which was a partial shutdown.

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This was a full shutdown.

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So, you know, my question to
you is, is how bad did it get?

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Because I was hearing
though, there were a lot

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of pools going around DC
of, of congressional staff

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and executive branch staff guessing

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how long the shutdown would go,

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and nobody was really
guessing longer than 10 days.

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So I think they were even
surprised at how long it went and,

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and things get a little rough

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around the 30 day mark. Right,

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- Exactly.

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But we were one of the first,

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and I would argue the most
active advocacy organization when

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it came to getting that
information to Congress very early.

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I was surprised by how weeks
into the shutdown, some

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of our colleagues and other
trade associations and,

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and under other organizations
are saying, Hey,

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do you wanna work together
on a coalition letter

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because it looks like
there's some real negative

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economic impact.

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I said, well, here's our letter
that we sent day one. Yeah.

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And we had our FPCs, any FPCs
in the house, great work. Woo.

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FPC, you guys weren't shut down.

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You guys were secret weapons.
No, you guys were the, the,

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the, the not so secret
weapons during that time

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because we did an all fpc call for action

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and every single member of
Congress was contacted saying,

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if this goes on,

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this is the impact it will have
on housing and the economy.

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And they all got that message.

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So no other organizations
were really doing that

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until when the airlines came on board.

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- Yeah. - And they saw the air
traffic controller situation

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and that this was causing backups.

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And then you started seeing more

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and more business related groups

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saying, okay, this is enough.

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Let's get over the finish line and,

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and get to a deal. And it came through

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- Because we know, and we've,
we've been through so many

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of these in 25 years in DC and,

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and nobody wins in these things.

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And you know, it's like, what's
the definition of insanity?

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You do the same thing over and over,

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expect a different outcome
every time the two parties think

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they can spin it and blame
the other for the shutdown.

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And every time it's just
like, it's the same outcome.

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Nobody wins in these things

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- And it'll likely happen again.

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Yeah. Once these things
are, are, are used as,

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as tactics, both sides use them.

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And that's, and happened for
years likely happened again,

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which is why we get to work
to ensure that the programs

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that are in here, that they have

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that longer term

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reauthorization, things
like flood insurance.

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A lot of folks were asking,

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why isn't there a separate standalone

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bill on flood insurance?

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So we're not worried about the rest

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of the, the government funding.

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And the answer is that that
is strategically attached so

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that it doesn't lapse

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because flood insurance on its own,

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even though it gets bipartisan support,

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we saw last Congress,

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the House Financial Services
Committee report near

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unanimously a bill to have
a long-term reauthorization.

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It can't get the floor time
it needs in the Senate.

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So we specifically ask that it
gets added onto this bill so

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that we don't have an incredibly
damaging lapse while they

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work simultaneously on a
long-term authorization.

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And that's where the focus is,

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- Is going to be.

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Yeah. Well let me ask you
this, 'cause you know, the,

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the Marriott across the
street's got the holiday music

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playing, you know,
it's, it's January 30th,

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it's right around the corner.

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So this agreement funds
the government in full

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till January 30th. So what happens

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- Then?

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So they'll have those three appropriations

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bills that are signed into law.

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So those go beyond that date.

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So the deadline is a little different.

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We'll also see the things
like SNAP payments,

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which we can all agree that,
that watching, watching

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that issue and

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- Yeah.

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- Healthcare related issues

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that these are, these are very important.

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And so they do have commitments
to move forward on these.

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And then they will also
make sure that those,

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those deadlines January 30th
will include like VA and USDA

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and other housing programs. So,

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- So those will, those will
be covered through September,

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the U, the USDA and VA programs.

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- Yes. But if we do shut down again,

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it will impact things like FHA,
all the other HUD programs.

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Yeah. So we're, it's still a,

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it's a partial longer term win,

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but not something that
we're going to say, Hey,

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we've finished that, let's move on.

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We have to make sure that
all of those are, are,

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are over the finish line soon. Okay,

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- Great.

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So that, and that, that's good

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because the,

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this next shutdown also the ag bill

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covers the snap payments.

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Exactly. So it won't be,

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it'll be like the partial
shutdown in 2016 more than it will

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be like the one we just went

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- Through.

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We would like no shutdown,

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- We like no partial or full no shutdown.

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We're not, we're not predicting
another one. But if it, it

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- Won't be as damaging, it's,

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but it will still be
something that we have to

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- Call, do a call fraction.

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And they're working on it this time.

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Like up until this last one,
they weren't working on it.

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They weren't like, as much
as they are like now the,

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they're pushing the
appropriations bills forward.

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- Exactly. They're, they're,
they're seeing the consequences

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of that in action.

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- Well, let's talk about,
well speaking of action,

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our advocacy and action
during the shutdown.

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So let's just kind of like
tick through some of the things

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that we did because you
just mentioned the FPC call

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for action that we did, that we did

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before the shutdown even started.

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Like you said, we were one
of the few organizations

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that were proactively taking action

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before, you know, the actual deadline.

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So tell us a little bit about what we did

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during the shutdown to
push our issues forward.

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- Exactly. So for members,
we had increase all

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of our communication to make sure

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that you all had access even

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before the shutdown on what

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that effect could be on many key programs.

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And to share that information
with your clients as well.

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00:09:19,710 --> 00:09:22,830
The FPC call for action,
that was, that was done very,

253
00:09:22,830 --> 00:09:27,000
very quickly reaching 100%
of congress in a week.

254
00:09:27,000 --> 00:09:28,950
And then we did a call for information.

255
00:09:28,950 --> 00:09:30,990
So this is something that
we haven't done too often,

256
00:09:30,990 --> 00:09:32,460
but it's been very successful.

257
00:09:32,460 --> 00:09:35,310
We started this with 10
31 like kind exchange when

258
00:09:35,310 --> 00:09:37,740
that was potentially on the chopping block

259
00:09:37,740 --> 00:09:38,970
through some of the tax debates.

260
00:09:38,970 --> 00:09:42,780
And we wanted to give congress
real life examples of clients

261
00:09:42,780 --> 00:09:44,370
who have used 10 31

262
00:09:44,370 --> 00:09:47,640
and the economic benefit that
is brought to the community

263
00:09:47,640 --> 00:09:49,650
and to, to their families.

264
00:09:49,650 --> 00:09:51,420
And so we did that with

265
00:09:51,420 --> 00:09:54,990
how the shutdown is impacting individuals.

266
00:09:54,990 --> 00:09:59,010
And we've received over
600 pieces of information

267
00:09:59,010 --> 00:10:02,130
that we were able to directly
share with folks saying,

268
00:10:02,130 --> 00:10:03,960
this is in your district,
this is in your state.

269
00:10:03,960 --> 00:10:07,170
This is impacting somebody
who with a name and a website

270
00:10:07,170 --> 00:10:08,280
and is going to go out there

271
00:10:08,280 --> 00:10:09,750
and continue to communicate this.

272
00:10:09,750 --> 00:10:11,730
And it was very effective.

273
00:10:11,730 --> 00:10:14,130
Actually, I think we got
600 almost immediately

274
00:10:14,130 --> 00:10:15,720
and we closed with almost a thousand

275
00:10:15,720 --> 00:10:17,070
and we'll still take more.

276
00:10:17,070 --> 00:10:19,920
And then we also put out
many, several letters

277
00:10:19,920 --> 00:10:21,900
and original research inc.

278
00:10:21,900 --> 00:10:24,390
Including some earned media, to ensure

279
00:10:24,390 --> 00:10:26,940
that everyone who's reporting
on this is reporting

280
00:10:26,940 --> 00:10:28,290
specifically on housing.

281
00:10:28,290 --> 00:10:30,240
And that my Google news alerts blew

282
00:10:30,240 --> 00:10:31,470
up during that time, Patrick.

283
00:10:31,470 --> 00:10:32,820
So that, that definitely was getting

284
00:10:32,820 --> 00:10:33,960
a, a great deal of attention.

285
00:10:33,960 --> 00:10:36,510
And then we send that to the
White House, we send that

286
00:10:36,510 --> 00:10:39,870
to Congress, we send that
to our, our direct contacts

287
00:10:39,870 --> 00:10:42,600
to make sure that that
information is reverberating.

288
00:10:42,600 --> 00:10:45,180
- Well, I wanna brag on our
lobby team here a little bit

289
00:10:45,180 --> 00:10:48,330
because I think this is the
moments where we really shine

290
00:10:48,330 --> 00:10:52,110
and you know, they were,
I mean, what they did

291
00:10:52,110 --> 00:10:55,740
during those 44 days was unreal.

292
00:10:55,740 --> 00:10:58,980
And I want everyone to know
all that they, all the work

293
00:10:58,980 --> 00:11:00,810
that they put in, like during that window,

294
00:11:00,810 --> 00:11:03,120
- And these are, many of our
lobbies worked on the hill,

295
00:11:03,120 --> 00:11:05,040
and so they've been
furloughed employees before

296
00:11:05,040 --> 00:11:07,260
and they're like, oh man, all
my friends are sitting at home

297
00:11:07,260 --> 00:11:08,640
right now and they're, they're not allowed

298
00:11:08,640 --> 00:11:10,800
to go into the office and
we are busier than ever.

299
00:11:10,800 --> 00:11:12,990
Yeah. So, so our lobbyists reached out

300
00:11:12,990 --> 00:11:16,020
to all 535 members sharing those letters,

301
00:11:16,020 --> 00:11:18,840
the shutdown impact information, the data

302
00:11:18,840 --> 00:11:20,220
that we had from research.

303
00:11:20,220 --> 00:11:22,320
In addition, they strategically engaged

304
00:11:22,320 --> 00:11:24,330
with more than 80 meetings on Capitol Hill

305
00:11:24,330 --> 00:11:28,350
with very high ranking
leadership, including the speaker,

306
00:11:28,350 --> 00:11:31,650
the minority leader, the
senate leader, leader, Schumer,

307
00:11:31,650 --> 00:11:33,870
all the committee chairs
that were relevant.

308
00:11:33,870 --> 00:11:36,900
So those folks were all still
many in DC and still working.

309
00:11:36,900 --> 00:11:39,150
And our lobbyists were in
their meeting with them.

310
00:11:39,150 --> 00:11:40,950
We had late Rayley Wright on our team

311
00:11:40,950 --> 00:11:44,250
who was participating in
weekly meetings with staff on

312
00:11:44,250 --> 00:11:45,630
what the shutdown impact is

313
00:11:45,630 --> 00:11:47,825
and what they're hearing
from different communities

314
00:11:47,825 --> 00:11:48,845
- With Scalise. Right.

315
00:11:48,845 --> 00:11:49,860
- With Scalise and

316
00:11:49,860 --> 00:11:52,380
with the conference
chairwoman Lisa McLean,

317
00:11:52,380 --> 00:11:55,240
our lobbyist Vijay Ya
lab held regular meetings

318
00:11:55,240 --> 00:11:57,400
with Leader Schumers,
Senator Cortez Masto,

319
00:11:57,400 --> 00:11:59,560
and Senator Kane, who are folks

320
00:11:59,560 --> 00:12:02,590
who ended up supporting
this down the line.

321
00:12:02,590 --> 00:12:04,810
Nicole Lindor, a new
member of our lobby team

322
00:12:04,810 --> 00:12:06,310
who I hope you all get to meet.

323
00:12:06,310 --> 00:12:08,380
She's a former realtor as well.

324
00:12:08,380 --> 00:12:10,060
She's been in consistent contact

325
00:12:10,060 --> 00:12:12,760
with the House Financial
Services Committee on the housing

326
00:12:12,760 --> 00:12:14,320
aspect of this.

327
00:12:14,320 --> 00:12:16,510
And then we also had extensive meetings

328
00:12:16,510 --> 00:12:17,620
with the administration,

329
00:12:17,620 --> 00:12:20,380
including key administration
officials like the VA

330
00:12:20,380 --> 00:12:24,970
secretary, Doug Collins,
leadership at HUD FHFA at treasury

331
00:12:24,970 --> 00:12:27,370
and the executive office of the president,

332
00:12:27,370 --> 00:12:29,325
including a meeting with
the president himself.

333
00:12:29,325 --> 00:12:31,540
- You, you left somebody out.
- Who did I

334
00:12:31,540 --> 00:12:33,035
- Leave out? Matt STRs.

335
00:12:33,035 --> 00:12:34,325
- What did Matt STRs do?

336
00:12:34,325 --> 00:12:38,620
- I mean, I just, so
Matt is our tax lobbyist,

337
00:12:38,620 --> 00:12:41,536
so we gave him the shutdown
off because he's had to

338
00:12:41,536 --> 00:12:42,670
- Get, he had the tax bill.

339
00:12:42,670 --> 00:12:45,250
He had the tax bill. Well
he, he, he was working

340
00:12:45,250 --> 00:12:47,350
with Leader Thune and others
on, on making sure that

341
00:12:47,350 --> 00:12:50,320
- He's over in the Texas
Shapes Lazy River right now.

342
00:12:50,320 --> 00:12:54,070
- Oh, poor - Matt. He had a,
he's had some well earned rest

343
00:12:54,070 --> 00:12:56,530
after the tax bill, so I'm teasing.

344
00:12:56,530 --> 00:12:57,670
We Matt's awesome,

345
00:12:57,670 --> 00:12:59,470
but well, you know,

346
00:12:59,470 --> 00:13:02,050
so let's not make this
all about the shutdown

347
00:13:02,050 --> 00:13:04,240
because we just had an election

348
00:13:04,240 --> 00:13:07,750
and I know it's an off year
election, so it might not make

349
00:13:07,750 --> 00:13:09,460
as much headlines as the midterms,

350
00:13:09,460 --> 00:13:12,580
but we were actively involved in it.

351
00:13:12,580 --> 00:13:14,590
- And one of the other things
that complicated the shutdown

352
00:13:14,590 --> 00:13:17,710
is that we had key elections
happening these off year

353
00:13:17,710 --> 00:13:19,360
elections in New Jersey.

354
00:13:19,360 --> 00:13:21,610
We got some folks from
New Jersey and Virginia

355
00:13:21,610 --> 00:13:25,210
and then some many local
elections going on so we can,

356
00:13:25,210 --> 00:13:26,890
you know, walk in chew
gum at the same time.

357
00:13:26,890 --> 00:13:29,140
And so we were very active in in those.

358
00:13:29,140 --> 00:13:31,720
So I'll share some of those
election results. Yeah.

359
00:13:31,720 --> 00:13:36,160
So we had, the pro
realtor position won in 14

360
00:13:36,160 --> 00:13:39,940
of the 17 ballot measures that
were decided last Tuesday.

361
00:13:41,620 --> 00:13:44,080
And so those are ones that are supported

362
00:13:44,080 --> 00:13:46,870
by grants coming from
the state local issues

363
00:13:46,870 --> 00:13:48,670
mobilization program.

364
00:13:48,670 --> 00:13:50,620
The overall record for 2025 is

365
00:13:50,620 --> 00:13:52,840
that we've had 18 wins out of 21.

366
00:13:52,840 --> 00:13:55,240
And these are the ones that a lot

367
00:13:55,240 --> 00:13:56,350
of folks don't pay attention to.

368
00:13:56,350 --> 00:13:58,120
But these are the things
that are happening

369
00:13:58,120 --> 00:13:59,860
that NAR partners with the state

370
00:13:59,860 --> 00:14:01,960
and local association
to make sure that, that,

371
00:14:01,960 --> 00:14:04,510
that these issues are well funded

372
00:14:04,510 --> 00:14:06,070
and that you have the
resources that you need.

373
00:14:06,070 --> 00:14:10,630
So three statewide ballot
measures here in Texas

374
00:14:10,630 --> 00:14:12,790
that will reduce taxes on property owners

375
00:14:12,790 --> 00:14:14,560
and small businesses.

376
00:14:14,560 --> 00:14:16,000
We had a New York City ballot measure

377
00:14:16,000 --> 00:14:18,640
that will make it easier to
develop property in the city

378
00:14:18,640 --> 00:14:20,110
and in Mecklenburg County,

379
00:14:20,110 --> 00:14:23,770
North Carolina passing a
sales tax to pay for transit

380
00:14:23,770 --> 00:14:25,060
and infrastructure improvements

381
00:14:25,060 --> 00:14:26,650
that were desperately needed.

382
00:14:26,650 --> 00:14:28,690
So those are a few of the big wins.

383
00:14:28,690 --> 00:14:30,880
But then we also have political wins.

384
00:14:30,880 --> 00:14:32,170
- Yeah, we had, we did a few ie.

385
00:14:32,170 --> 00:14:33,460
Independent expenditures. Right.

386
00:14:33,460 --> 00:14:35,650
- Yeah. So these are all on
the issues that we focus on.

387
00:14:35,650 --> 00:14:36,730
And then these are on the candidates.

388
00:14:36,730 --> 00:14:41,020
So some of the independent
expenditures were in Atlanta.

389
00:14:41,020 --> 00:14:44,830
Andre Dickens won reelection
with an overwhelming 85%

390
00:14:44,830 --> 00:14:47,980
of the vote and the Atlanta
realtor endorsement.

391
00:14:47,980 --> 00:14:51,920
So very nice. And then
we also had ones in St.

392
00:14:51,920 --> 00:14:56,090
Paul, Minnesota with a successful
mayoral bid. Mayor her St.

393
00:14:56,090 --> 00:14:57,090
Paul. There we go.

394
00:14:58,370 --> 00:14:59,540
- And off your election we're,

395
00:14:59,540 --> 00:15:00,950
we're obviously still involved,

396
00:15:00,950 --> 00:15:03,440
but it, it's the result
of this election and,

397
00:15:03,440 --> 00:15:05,780
and how well the pro
housing candidates did

398
00:15:05,780 --> 00:15:08,150
where we got involved.
That was encouraging.

399
00:15:08,150 --> 00:15:09,950
- Well, it's also really
important when you're tracking

400
00:15:09,950 --> 00:15:12,140
these off your elections
because the turnout model is

401
00:15:12,140 --> 00:15:13,190
incredibly different

402
00:15:13,190 --> 00:15:15,380
and you're, you're going
see typically lower turnout,

403
00:15:15,380 --> 00:15:16,760
more engaged voters

404
00:15:16,760 --> 00:15:19,130
and so you're working on
different messaging and things,

405
00:15:19,130 --> 00:15:22,010
but it's also a good
reminder of what we're able

406
00:15:22,010 --> 00:15:25,340
to accomplish in those
election years. So just

407
00:15:25,340 --> 00:15:26,810
- Next year's the big show. So

408
00:15:26,810 --> 00:15:28,400
- We're gonna have a
big show, our big show

409
00:15:28,400 --> 00:15:29,960
and as in 2024

410
00:15:29,960 --> 00:15:33,680
where we had 430 rpac supported candidates

411
00:15:33,680 --> 00:15:34,760
who were successful

412
00:15:34,760 --> 00:15:36,980
and those are add up to be a lot

413
00:15:36,980 --> 00:15:38,630
of housing champions in Congress.

414
00:15:38,630 --> 00:15:43,100
And that was a what, 97% success
rate that we had in 2024.

415
00:15:43,100 --> 00:15:45,290
So we've gotta keep that going into 26.

416
00:15:45,290 --> 00:15:47,660
- Yeah. And no pressure.

417
00:15:47,660 --> 00:15:50,960
I mean, 97, I don't think I
ever got a 97 on any test in my

418
00:15:50,960 --> 00:15:51,960
- Class.

419
00:15:51,960 --> 00:15:52,793
I don't believe that
for a minute, Patrick.

420
00:15:52,793 --> 00:15:54,125
No, you're a student. A plus.

421
00:15:55,730 --> 00:15:58,070
- Yeah. So we're, we're
not letting our guard down.

422
00:15:58,070 --> 00:15:59,690
We're preparing for next year.

423
00:15:59,690 --> 00:16:02,870
And on that topic, and I
wanted to touch on this quickly

424
00:16:02,870 --> 00:16:06,020
because it's just been in the
news it feels like constantly,

425
00:16:06,020 --> 00:16:07,820
but redistricting.

426
00:16:07,820 --> 00:16:10,040
So there's a lot going on on that front.

427
00:16:10,040 --> 00:16:13,250
So I wanted to ask you,
as these districts are,

428
00:16:13,250 --> 00:16:15,770
are being shifted around the
country in certain states, is

429
00:16:15,770 --> 00:16:17,455
that changing our strategy at all?

430
00:16:17,455 --> 00:16:20,540
- Oh, well there is a, the
state, the GAD reception

431
00:16:20,540 --> 00:16:23,390
after this and that would be
a great place to talk to some

432
00:16:23,390 --> 00:16:24,710
of the, and find out what's going on

433
00:16:24,710 --> 00:16:26,000
with redistricting in their state.

434
00:16:26,000 --> 00:16:27,710
But we said, we just saw this week

435
00:16:27,710 --> 00:16:29,990
that a federal ruling in Utah created

436
00:16:29,990 --> 00:16:32,810
what looks like a solid
blue seat in Salt Lake City.

437
00:16:32,810 --> 00:16:34,310
So that would be a potential pickup

438
00:16:34,310 --> 00:16:37,010
for Democrats if you're
looking at the count.

439
00:16:37,010 --> 00:16:39,380
And then the number of games as of now,

440
00:16:39,380 --> 00:16:42,230
I think this was coming from
some top political scientists

441
00:16:42,230 --> 00:16:43,730
who we work with are

442
00:16:43,730 --> 00:16:47,660
that Republicans have drawn fav
nine favorable new districts

443
00:16:47,660 --> 00:16:51,320
in Texas, Missouri,
North Carolina and Ohio.

444
00:16:51,320 --> 00:16:55,700
Democrats kind of hit back
with five in California.

445
00:16:55,700 --> 00:16:59,600
And then we're seeing that the
score, if we're keeping score

446
00:16:59,600 --> 00:17:03,470
of this is that nine
six win for Republicans.

447
00:17:03,470 --> 00:17:05,690
But the, the game is not
over yet. Yeah. They're

448
00:17:05,690 --> 00:17:06,920
- Still, and we never know

449
00:17:06,920 --> 00:17:08,605
how the courts are gonna
end up ruling on some of

450
00:17:08,605 --> 00:17:09,605
- These.

451
00:17:09,605 --> 00:17:10,438
And the courts are still involved

452
00:17:10,438 --> 00:17:14,090
and the Larry Saba's crystal
ball, so he had his ratings

453
00:17:14,090 --> 00:17:17,720
after the election and
determined that there were 209

454
00:17:17,720 --> 00:17:21,860
to 209 seats in the house with 17 tossups.

455
00:17:21,860 --> 00:17:23,630
So, and that also includes,

456
00:17:23,630 --> 00:17:25,490
there's a few vacancies in there.

457
00:17:25,490 --> 00:17:27,860
So does that sound like
the realtor purple is going

458
00:17:27,860 --> 00:17:30,230
to matter coming into this next election.

459
00:17:30,230 --> 00:17:32,630
So those are the seats,
those tossups are exactly

460
00:17:32,630 --> 00:17:34,400
where we're in the game

461
00:17:34,400 --> 00:17:35,780
or we're bringing those resources,

462
00:17:35,780 --> 00:17:38,180
we're following those races very closely

463
00:17:38,180 --> 00:17:40,550
and making sure that the
pro housing pro realtor

464
00:17:40,550 --> 00:17:42,020
candidates have a shot.

465
00:17:42,020 --> 00:17:44,720
- Wow. So he's saying,
he's saying as of today,

466
00:17:44,720 --> 00:17:47,600
it looks like the Democrats
have the hand in 209 seats

467
00:17:47,600 --> 00:17:50,040
and the Republicans have
the hand in 209 seats

468
00:17:50,040 --> 00:17:52,200
- 50 50 just like our RPAC contributions.

469
00:17:52,200 --> 00:17:54,540
- Hmm. Causation or correlation,

470
00:17:54,540 --> 00:17:55,710
- I don't know.

471
00:17:55,710 --> 00:17:57,000
- Well that's really great information

472
00:17:57,000 --> 00:17:58,230
to know going into next year

473
00:17:58,230 --> 00:18:01,690
and the election guides,
our federal issues and,

474
00:18:01,690 --> 00:18:05,100
and all of the, the momentum
we saw in last week's election

475
00:18:05,100 --> 00:18:08,400
with the pro housing candidates
winning gave a little sort

476
00:18:08,400 --> 00:18:09,660
of umph to our issues.

477
00:18:09,660 --> 00:18:13,350
I mean there's a, there's like
a palpable momentum in in DC

478
00:18:13,350 --> 00:18:15,570
like you can feel it on
housing affordability.

479
00:18:15,570 --> 00:18:17,250
- It is on everyone's mind.

480
00:18:17,250 --> 00:18:20,970
And it is getting more attention
than I have seen in my 25

481
00:18:20,970 --> 00:18:24,030
plus years of working in this area in DC.

482
00:18:24,030 --> 00:18:26,610
So the election results
also bolster the prospects

483
00:18:26,610 --> 00:18:28,680
for things like their Road to Housing Act.

484
00:18:28,680 --> 00:18:30,240
That's something that
passed through the Senate

485
00:18:30,240 --> 00:18:32,550
and as a longtime house staffer, the idea

486
00:18:32,550 --> 00:18:34,950
that the Senate can get anything
done is just mind blowing.

487
00:18:34,950 --> 00:18:36,090
It's, it's wonderful to see.

488
00:18:36,090 --> 00:18:38,160
So we have the Road to Housing Act,

489
00:18:38,160 --> 00:18:42,000
it was passed massive bipartisan support

490
00:18:42,000 --> 00:18:43,830
and that includes policy change design

491
00:18:43,830 --> 00:18:46,350
to boost things like manufactured housing

492
00:18:46,350 --> 00:18:49,080
to encourage zoning reform in
communities around the country

493
00:18:49,080 --> 00:18:51,690
and just increase inventory.

494
00:18:51,690 --> 00:18:55,050
It may run into some
roadblocks, no pun intended,

495
00:18:55,050 --> 00:18:58,170
but it is something
that is, has attached to

496
00:18:58,170 --> 00:19:00,510
another must pass bill,
which is the defense bill.

497
00:19:00,510 --> 00:19:02,880
And so we are working on
making sure that that stays in,

498
00:19:02,880 --> 00:19:06,720
in place and that it moves
across the house as well.

499
00:19:06,720 --> 00:19:09,750
We have had literally
thousands of meetings

500
00:19:09,750 --> 00:19:13,560
with Congress over 5,000 last year alone.

501
00:19:13,560 --> 00:19:15,780
And with the White House to, to discuss

502
00:19:15,780 --> 00:19:19,920
that unleashing inventory
is the most bipartisan issue

503
00:19:19,920 --> 00:19:21,750
and the federal government
has many policies

504
00:19:21,750 --> 00:19:23,310
that can encourage state

505
00:19:23,310 --> 00:19:26,520
and local governments to open that up

506
00:19:26,520 --> 00:19:29,580
and to bring that inventory
that is so badly needed.

507
00:19:29,580 --> 00:19:30,690
And that's one of the key bills.

508
00:19:30,690 --> 00:19:32,940
- And, and you know, it's, it's,

509
00:19:32,940 --> 00:19:35,550
it's gotten interest in
Congress and in the White House.

510
00:19:35,550 --> 00:19:37,890
The president's talking
about it a lot now.

511
00:19:37,890 --> 00:19:42,180
And we made news in a r research team

512
00:19:42,180 --> 00:19:43,320
regularly making news,

513
00:19:43,320 --> 00:19:47,070
but specifically last week
some new research came out

514
00:19:47,070 --> 00:19:50,460
that was pretty headline
making about the average age

515
00:19:50,460 --> 00:19:51,960
of the first time home buyer.

516
00:19:51,960 --> 00:19:53,520
- So we get news that the average age

517
00:19:53,520 --> 00:19:56,040
of the first time home
buyer is 40 and then soon

518
00:19:56,040 --> 00:19:58,710
after, hey, we should
have a 50 year mortgage.

519
00:19:58,710 --> 00:20:03,120
I'm not the best at math,
I'm a liberal arts student,

520
00:20:03,120 --> 00:20:05,310
but I even, I was able to figure

521
00:20:05,310 --> 00:20:07,020
that one out pretty quickly.

522
00:20:07,020 --> 00:20:10,080
We've had conversations with
key administration officials

523
00:20:10,080 --> 00:20:11,310
and others and, and have shared

524
00:20:11,310 --> 00:20:13,020
that there are certain loan products

525
00:20:13,020 --> 00:20:15,060
that we can absolutely modernize

526
00:20:15,060 --> 00:20:17,460
and have an entire ecosystem
that these could be offered.

527
00:20:17,460 --> 00:20:19,890
But we wanna make sure
that it's also pro-consumer

528
00:20:19,890 --> 00:20:21,780
and it's also going to
work well to make sure

529
00:20:21,780 --> 00:20:25,590
that the number one issue being
unleashed inventory create

530
00:20:25,590 --> 00:20:29,370
more supply so more folks
can have equity in that home

531
00:20:29,370 --> 00:20:31,590
and build that generational
wealth that matters to

532
00:20:31,590 --> 00:20:34,680
so many families, so many Americans.

533
00:20:34,680 --> 00:20:36,850
- Yeah. So we don't necessarily have a,

534
00:20:36,850 --> 00:20:39,300
a policy on the 50 year mortgage doing

535
00:20:39,300 --> 00:20:40,300
- It's not.

536
00:20:40,300 --> 00:20:41,460
And I love it because as you all know,

537
00:20:41,460 --> 00:20:42,870
we have more committees than Congress

538
00:20:42,870 --> 00:20:45,090
and every committee is
contemplating whether

539
00:20:45,090 --> 00:20:48,190
or not if we have many issues
that are moving before PPCC

540
00:20:48,190 --> 00:20:49,660
and the executive committee this week,

541
00:20:49,660 --> 00:20:51,610
but the 50 year mortgage is
one that we have cautioned

542
00:20:51,610 --> 00:20:53,380
that it's not the right fit for everybody.

543
00:20:53,380 --> 00:20:56,380
Is it still better than renting
for 50 years? Absolutely.

544
00:20:56,380 --> 00:20:58,960
But there are many risks
that come with that too.

545
00:20:58,960 --> 00:21:02,380
So while the federal government
is looking at solutions,

546
00:21:02,380 --> 00:21:05,080
we would argue that there are
several in advance of that,

547
00:21:05,080 --> 00:21:06,430
like more homes on the market

548
00:21:06,430 --> 00:21:10,900
that would double the capital
gains exemption for homes

549
00:21:10,900 --> 00:21:13,570
that could be sold to a
first time home buyer.

550
00:21:13,570 --> 00:21:15,430
Things like the Neighborhood
Homes Investment Act,

551
00:21:15,430 --> 00:21:18,550
which is similar to opportunity
zones for housing to ensure

552
00:21:18,550 --> 00:21:20,590
that you have the tax benefit to be able

553
00:21:20,590 --> 00:21:22,570
to rehabilitate homes
in areas that need it.

554
00:21:22,570 --> 00:21:24,310
So, so they're well aware

555
00:21:24,310 --> 00:21:27,220
and we do expect that
there is a, an opportunity

556
00:21:27,220 --> 00:21:28,810
for a second tax bill.

557
00:21:28,810 --> 00:21:32,290
But the important thing is
even if that doesn't happen,

558
00:21:32,290 --> 00:21:35,290
these are bipartisan bills
that could pass without having

559
00:21:35,290 --> 00:21:37,600
to go through a budget
reconciliation process.

560
00:21:37,600 --> 00:21:41,140
And, and the more that we
can generate this, the,

561
00:21:41,140 --> 00:21:44,080
the news stories and the
information out there on housing is

562
00:21:44,080 --> 00:21:46,630
something that's critical to the economy,

563
00:21:46,630 --> 00:21:48,070
the more likely Congress will act.

564
00:21:48,070 --> 00:21:49,690
- Yeah. And and Lawrence and,

565
00:21:49,690 --> 00:21:52,060
and Jessica, Dr. Lawrence, Yan Dust, Dr.

566
00:21:52,060 --> 00:21:56,140
Jessica LA who got lots of
90 sevens on their tests,

567
00:21:56,140 --> 00:21:57,340
- Lots of nine doctor,

568
00:21:58,450 --> 00:22:00,550
- You know, they, I think they
put out a beautiful statement

569
00:22:00,550 --> 00:22:02,530
on the, on the 50 year mortgage

570
00:22:02,530 --> 00:22:05,020
and sort of splitting the
baby there a little bit about

571
00:22:05,020 --> 00:22:07,480
like, well, you know, you
still get the 5% a year

572
00:22:07,480 --> 00:22:11,590
appreciation of the home even
though you don't really start

573
00:22:11,590 --> 00:22:16,000
accruing equity until year
40 any meaningful equity.

574
00:22:16,000 --> 00:22:18,610
So, you know, there,
there was, you know, it's,

575
00:22:18,610 --> 00:22:21,070
and it's still, you know, long
term would've would be better

576
00:22:21,070 --> 00:22:22,480
for renting, but I don't think I've seen

577
00:22:22,480 --> 00:22:24,640
so many media inquiries come through our,

578
00:22:24,640 --> 00:22:27,040
my inbox than we did on
this 50 year mortgage

579
00:22:27,040 --> 00:22:28,210
thing. It just exploded.

580
00:22:28,210 --> 00:22:32,200
- I mean the memes have been
just getting a lot of attention

581
00:22:32,200 --> 00:22:34,360
and, and so it's, it's helpful

582
00:22:34,360 --> 00:22:38,440
that we can have the opportunity
to share That's an idea,

583
00:22:38,440 --> 00:22:40,060
but here are some others
that are much better

584
00:22:40,060 --> 00:22:42,070
and we're getting very positive

585
00:22:42,070 --> 00:22:43,450
responses from the administration and

586
00:22:43,450 --> 00:22:44,450
- Congress on that.

587
00:22:44,450 --> 00:22:47,380
Yeah. Well we're getting toward
the end of our session here,

588
00:22:47,380 --> 00:22:49,180
so closing time.

589
00:22:49,180 --> 00:22:52,270
I love it when you tell us
behind the scenes stories

590
00:22:52,270 --> 00:22:53,560
that like are not out there.

591
00:22:53,560 --> 00:22:54,760
'cause you have so many good tales.

592
00:22:54,760 --> 00:22:57,670
And Ryan Russ Bolt is not here with us

593
00:22:57,670 --> 00:22:59,860
'cause he was on a fundraising trip.

594
00:22:59,860 --> 00:23:03,010
- Poor Ryan has been all over
the country working on many

595
00:23:03,010 --> 00:23:04,930
of these trips with bipartisan groups

596
00:23:04,930 --> 00:23:06,040
of members of Congress.

597
00:23:06,040 --> 00:23:08,470
So for those of you who, who
know Ryan, Russ Bolt, who works

598
00:23:08,470 --> 00:23:09,790
with many of our house Republicans,

599
00:23:09,790 --> 00:23:12,700
he also does the best Trump
impression that I have heard.

600
00:23:12,700 --> 00:23:14,350
And that's saying something
because everyone seems

601
00:23:14,350 --> 00:23:15,640
to have a Trump impression.

602
00:23:15,640 --> 00:23:19,090
But we had a, a fun event
recently that we were invited

603
00:23:19,090 --> 00:23:21,730
to a Rose garden event at the White House

604
00:23:21,730 --> 00:23:24,400
with numerous members of
the president's cabinet

605
00:23:24,400 --> 00:23:27,490
where he was thanking
organizations that were supportive

606
00:23:27,490 --> 00:23:28,720
of the tax bill

607
00:23:28,720 --> 00:23:30,130
and we were very happy
with the real estate

608
00:23:30,130 --> 00:23:31,870
provisions that were in the tax bill.

609
00:23:31,870 --> 00:23:33,820
And so Ryan goes in my place

610
00:23:33,820 --> 00:23:35,320
because I should have
been there, but I had a,

611
00:23:35,320 --> 00:23:36,670
an important dinner that night

612
00:23:36,670 --> 00:23:38,650
that I was hosting and
could not get out of.

613
00:23:38,650 --> 00:23:40,450
So I said, okay, Ryan, go,

614
00:23:40,450 --> 00:23:43,030
but I want details, I want everything.

615
00:23:43,030 --> 00:23:45,500
And he calls me as he's
leaving the White House

616
00:23:45,500 --> 00:23:46,970
and I've known Ryan for 15 years

617
00:23:46,970 --> 00:23:48,830
and I have never heard him as giddy

618
00:23:48,830 --> 00:23:50,270
as he was in those moments.

619
00:23:50,270 --> 00:23:52,340
And he said that he was able to go

620
00:23:52,340 --> 00:23:55,130
and get a meeting in the Oval
Office with the president

621
00:23:55,130 --> 00:23:56,870
and to discuss the importance

622
00:23:56,870 --> 00:23:58,280
of keeping the American dream alive.

623
00:23:58,280 --> 00:24:01,430
And thank the president for
his remarks at our legislative

624
00:24:01,430 --> 00:24:04,190
meetings earlier this year
where he recorded a video

625
00:24:04,190 --> 00:24:06,980
and reminded him of the
administration's commitment

626
00:24:06,980 --> 00:24:08,540
to housing and the president agreed

627
00:24:08,540 --> 00:24:10,760
and had very positive things to say

628
00:24:10,760 --> 00:24:12,170
and making that commitment

629
00:24:12,170 --> 00:24:14,600
to making the housing
market to move again.

630
00:24:14,600 --> 00:24:16,370
So these are the behind the scenes thing.

631
00:24:16,370 --> 00:24:18,800
That's why you have
this lobbying team in DC

632
00:24:18,800 --> 00:24:21,350
and that is why we have
these resources to make sure

633
00:24:21,350 --> 00:24:24,260
that we are at every table, at every event

634
00:24:24,260 --> 00:24:28,490
to be your voice and that
we're the ones who are there.

635
00:24:28,490 --> 00:24:30,620
And, and that those things matter.

636
00:24:30,620 --> 00:24:32,810
And, and it is an honor
that we get to do this

637
00:24:32,810 --> 00:24:36,080
and we're always excited
for the advocacy engagement

638
00:24:36,080 --> 00:24:37,220
that you all offer up

639
00:24:37,220 --> 00:24:39,050
and just wanna make sure
that we keep that going

640
00:24:39,050 --> 00:24:40,310
and we can represent you well.

641
00:24:40,310 --> 00:24:41,330
- So that's the scoop.

642
00:24:41,330 --> 00:24:43,880
Thank you to everyone
listening to this podcast.

643
00:24:43,880 --> 00:24:45,080
Please be sure to subscribe

644
00:24:45,080 --> 00:24:47,360
and share wherever you get your podcast.

645
00:24:47,360 --> 00:24:48,560
And meet us right back here

646
00:24:48,560 --> 00:24:50,630
for more advocacy scoop next time.

647
00:24:51,830 --> 00:24:55,010
- Realtors are members of
the National Association

648
00:24:55,010 --> 00:24:55,850
of Realtors.