NAR's Response to FHFA's Updated FHFA Renter Protections Request for Input

On July 31 NAR submmitted comments to the Federal Housing Finance Agency in response to their "Tenant Protections for Enterprise [Fannie Mae and Freddie Mac] Backed Multifamily Properties" request for input (RFI). 

 

Approximately 40% of NAR’s members own at least one rental housing unit, and our membership counts thousands of “mom-and-pop” housing providers among its numbers. NAR appreciates the opportunity to work with the Administration to address the critical housing supply shortage and affordability issues, which is a top priority for our organization and members.

 

The United States is facing a new challenge in housing, which comes down to one root cause: lack of supply. This lack of supply is driving up costs for homes to purchase, which in turn keeps more people in rental housing for a longer period of time, and therefore puts more pressure on the existing rental inventory (with even more tightness in low-cost units). The solution to this problem is not to create policies that drive housing providers out of the market, but to find new solutions to increase development and enhance and fund existing programs which incentivize creating more affordable housing of all types. NAR is proud to support such solution-oriented policies and looks forward to continuing to work with the Administration and Congress to develop new and creative ways to support housing providers and residents alike across the country.