NAR Letter to House Oversight committee Re CRE Market Hearing
Issue Date: April 30, 2024
On Tuesday, April 30, the House Oversight Subcommittee on Health Care and Financial Services held a hearing, "Health of the Commercial Real Estate Markets and Removing Regulatory Hurdles to Ensure Continued Strength." Witnesses were Jeff DeBoer (CEO and President of RER) and Jeffrey Weidell (CEO of NorthMarq).
NAR sent a letter to the Subcommittee members for the hearing, stressing the importance of CRE to the U.S. economy and the need for Flexible, prudent policies to bolster the industry sector as it continues to recover from COVID-related challenges and consumer trends, while a massive amount of debt ($2.8 trillion between 2023 and 2028) matures under vastly different economic circumstances than it was originated under.