Addressing the Housing Affordability Crisis with the HELPER Act
In the midst of a housing affordability crisis, real estate professionals have experienced the impact through stalled deals, frustrated clients, and collapsed sales. The HELPER Act, an acronym for Homes for Every Local Protector, Educator, and Responder, aims to provide support modeled after the successful VA home loan program. Endorsed by key organizations such as the Fraternal Order of Police and the National Education Association, this bipartisan bill could eliminate barriers for teachers, firefighters, police officers, EMTs, and paramedics looking to purchase their first home.
For those in the real estate industry, the HELPER Act is not just good policy, but also great for business. By removing the down payment and monthly mortgage insurance requirements, this act makes real estate deals easier to close, especially for families with median incomes who are most affected by high prices and limited housing supply.
The HELPER Act has gained bipartisan support in Congress but still lacks widespread recognition. It is crucial for industry professionals to advocate for this initiative, educate clients, and push for local associations to support the bill. By supporting the HELPER Act, we can align our values with our bottom line and contribute to a more accessible housing market.
Let’s take action and support initiatives like the HELPER Act to address the housing affordability crisis and create a more flexible and viable real estate market for buyers, lenders, agents, and developers.
Justin Goldstein is the founder and president of PR73. This column does not necessarily reflect the opinion of HousingWire’s editorial department and its owners.
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