I hope that you’ve all taken a minute to respond to the latest call-for-action from NAR. (That goes double for those who are always complaining that NAR doesn’t do anything for you.)
A bill, H.R. 1309, is being debated in Congress right now that would re-authorize, reform, and extend the National Flood Insurance Program for 5 years.
The NAR Land Use Committee, has been working on getting this bill in place for years – it’s been a top priority. Finally we have a bill that will truly make a difference if passed, or the NFIP program will sunset on September 30 of this year.
If that happens, it would be catastrophic for many areas, coastal regions, mid-west areas prone to flooding, etc. This program is the ONLY SOURCE of flood damage protection for 5.6 million home and business owners today, not to mention the millions of affiliated jobs like builders, remodelers, movers, mortgage lenders, insurance agents, real estate professionals and more. In the last 3 years alone there have been 9 stopgap extensions and 5 shutdowns. Just last year a shutdown of just a few weeks resulted in more than 47,000 home sales delayed or canceled – in a market that is way down to begin with.
Do we need MORE uncertainty from our leaders on this issue? We actually have a chance to provide some long term stability to at least one segment of our market, let’s not blow it. Take a minute – click on the page below and lend your voice to the chorus.
1.1 million strong. Very little we can’t do if we put our minds and hearts to it.