Joseph Biden was sworn in on Jan. 20 as the 46th President of the United States. Here’s how the industry responded to his inauguration and address.
National Association of REALTORS® (NAR) President Charlie Oppler:
“America’s 1.4 million REALTORS® are as diverse as the nation and consumers they serve. I was heartened by President Biden’s call for unity. As Americans, we will see leaders come and go during our lives, but our nation succeeds only when we unite. NAR is committed to assisting President Biden and the new Congress as we seek to heal our nation and strengthen the economy, continuing our 113-year tradition of working with every Congress and Presidential administration. We look forward to partnering on many of our common goals, including policies that will advance and expand the American Dream of homeownership, address housing affordability and accessibility, and promote fair housing and racial equity.”
The Real Estate Board of New York (REBNY) President James Whelan:
“New York and our entire nation continue to face enormous challenges. Yet, with commitment, collaboration, and a unified spirit, we will continue forward on the road to recovery and ensure a brighter future. We welcome President Joe Biden and Vice President Kamala Harris at this critical moment for our nation and we are confident their strong leadership will help make that brighter future possible.
“We are encouraged by the Biden-Harris administration’s plans to resolutely tackle the COVID pandemic and for advancing an additional federal stimulus package as quickly as possible. Senator Chuck Schumer’s well-deserved elevation to Majority Leader will serve to help to expedite this crucial effort to address the needs of millions of New Yorkers.
“It is imperative that the federal government’s next stimulus package includes comprehensive rent subsidies along with unemployment support and additional state and local aid. Washington must address this crisis and act quickly to address its unprecedented economic impacts. Just as we look forward to working with the Biden-Harris Administration to implement any new stimulus plan passed by Congress, we also look forward to working with their administration to advance policies—including a new infrastructure plan—that will create good jobs, produce more housing and get our economy back on track.
“As the new Presidential administration and the new Congress work to pursue these goals, it will continue to be crucial for New York City and State elected officials to play an equally important role in advancing policies that will create more of the good jobs and housing needed to rebuild our State’s economy. Such policies will form the basis of genuine economic recovery. New York will succeed if we all remember the importance of working together toward a common goal of progress for all.”
The National Multifamily Housing Council (NMHC) and the National Apartment Association (NAA):
“The NMHC and the NAA appreciate President Biden’s prompt and well-intended action to address the ongoing financial struggle of our nation’s 40 million renters.
“However, NMHC and NAA continue to raise serious concerns about eviction moratoriums because they do not address underlying financial distress and leave households accumulating insurmountable levels of debt.
“We remain heartened by President Biden’s recently announced relief proposal, the ‘American Rescue Plan,’ which includes additional unemployment benefits, increased stimulus checks and an additional $25 billion in rental assistance. These measures will continue to support those households and apartment owners and operators who are unable, through no fault of their own, to meet their financial obligations.
“We are deeply concerned that the President’s rescue package includes a nine-month eviction moratorium in addition to the CDC Order extension enacted today. Such policies have been in place for nearly a year while targeted, direct rental assistance took nine months to pass Congress.
“Even so, allocated rental assistance funds do not fully address the $70 billion in outstanding debt nor accruing debt moving forward. The industry simply cannot continue operation under these policies without disastrous harm to housing affordability.
“We look forward to working together with the Biden Administration and Congress to provide the additional financial support needed to help close the growing gap of tens of billions in rental debt that accumulated in 2020. Additional financial support is urgently needed to prevent displacement, stabilize millions of Americans who continue to struggle under the weight of COVID-19 financial impacts and ensure rental housing providers can continue operations and keep their residents stably housed.”
Robert D. Broeksmit, President & CEO, Mortgage Bankers Association:
“On behalf of the Mortgage Bankers Association (MBA), I congratulate President Joe Biden and Vice President Kamala Harris. MBA looks forward to working with the incoming administration and the new Congress on the opportunities and challenges facing our beloved nation.
“The housing market has been a bright spot in the uneven economic recovery from the COVID-19 pandemic. Our immediate focus must be to continue to assist homeowners, renters and landlords negatively affected by the pandemic. Improving access to affordable housing, creating opportunities for first-time and minority households, and ensuring liquidity will also be among our top priorities.
“MBA and its members are ready to partner with the Biden administration as it builds its team of economic, housing and financial services experts.”
