Establishing the Bipartisan Congressional Real Estate Caucus: A Commitment to Supporting the Real Estate Industry and American Dream

Representative Lou Correa, alongside Representatives Tracey Mann, Brittany Pettersen, and Mark Alford, has launched the Bipartisan Congressional Real Estate Caucus on May 6, 2024. This initiative aims to support and promote policies that benefit the real estate industry, which plays a significant role in the U.S. economy.

Real estate accounts for 16% of the U.S. GDP, supports 2.8 million jobs, and generates $50 billion in tax revenue. Given its importance, Congress must prioritize policies that enable the industry to prosper. The newly formed caucus will work towards this goal by bridging the partisan divide and advocating for real estate policies that benefit aspiring homeowners and families across the country.

Representative Correa, a former real estate broker, emphasized the role of homeownership in the American Dream and its ability to uplift Main Street and hard-working American taxpayers. Co-Chair Representative Alford, who also has experience in the real estate industry, highlighted the regulatory challenges faced by realtors and expressed his commitment to addressing them through the caucus.

The caucus has garnered support from key organizations such as the National Association of Realtors, Mortgage Bankers Association, National Association of Home Builders, and others. These industry stakeholders recognize the importance of advocating for policies that promote a stable housing environment, increase housing supply and accessibility, and empower real estate agents and developers to provide quality services for homeowners.

Through the Bipartisan Congressional Real Estate Caucus, Representatives Correa, Mann, Pettersen, and Alford aim to champion policies that enhance the real estate market, facilitate homeownership, and contribute to the growth and development of local, state, and national economies. Their collaborative efforts reflect a commitment to advancing the interests of the real estate industry and creating opportunities for all Americans to achieve their own American Dream.