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Thursday, March 12, 2020

Three for Thursday 3/12/20 – Government Affairs Update

Here’s your Three for Thursday – Government Affairs Update

Local –

1) Government Affairs Forum – 2020 Policy & Political Forecast – We are currently monitoring State & Local directives and will be reevaluating this event in the coming hours and days. Stay tuned. 

Join us at our first 2020 Government Affairs Forum “2020 Policy & Political Forecast.” Open to all Columbus REALTORS® members, this All-Star panel of policy and political experts, will discuss the hot topics of 2020 from Local City Hall’s to the Statehouse to The White House. The decisions made at all levels of government impact our communities and your business. A do-not miss event, you’ll want to hear these expert opinions and bold predictions. This event will not only keep you entertained, but will keep you informed as to what you can expect on the policy and political front of 2020.

We’ll discuss topics such as:

• Policy Initiatives from the Local, State & National Perspectives
• Local Races to watch
• Are the Columbus suburbs now solidly Democratic?
• What does the likely loss of a Congressional District mean for Ohio?
• Who wins control of the United State House and Senate?
• What does a President Trump Re-election OR Democratic Nominee Victory mean locally and for Ohio?
• And SO much more!

Federal –

2) U.S. housing market is missing 3.3 million homes, Freddie Mac says via HousingWire. 

a. The shortage increases by about 300,000 a year as homebuilding lags. 

b. The root of the problem is the housing crash and financial crisis more than a decade ago. Many homebuilding companies were wiped out, and immigrants that made up about a quarter of the construction workforce prior to the crash left the U.S. and, in large part, haven’t returned.

In every prior economic contraction, the housing market led the economy out of recession as homebuilders kicked into high gear, but during the current expansion that didn’t happen.

“It’s been a decade and we’re not back to normal in terms of home building,” said Lawrence Yun, chief economist of the National Association of Realtors. “Many small-time builders are still out of the game. It was small-time builders in the aggregate that built many more homes than the big builders, and they’ve hesitated to get back in, even though it appears there is a money-making opportunity.”

3) Coronavirus: A Guide for REALTORS® via NAR

a. What unique issues does coronavirus present to the real estate industry?

b. May I ask clients or others I interact with in my real estate business if they have traveled recently, or have any signs of respiratory illness?

c. I typically drive my clients to showings. May I refuse to drive potential clients to see homes?

d. Should I still conduct open houses on my listed properties?

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