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Senate Makeup Affects Housing

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While President-elect Joe Biden likely will make housing policy a higher priority than the Trump administration has, the effectiveness of Biden’s agenda hinges on which party controls the U.S. Senate, Jim Parrott, a housing adviser to former President Barack Obama, said Thursday during the National Association of REALTORS®’ virtual Real Estate Forecast Summit. “The Biden administration wants to deal with the racial wealth gap,” Parrott said in a Q&A session with NAR President Charlie Oppler, “and they view the racial homeownership gap as being a core part of that problem. If you can bridge the homeownership gap, you can bridge the wealth gap.”

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