By Dave Gatton
November 18, 2002

The U.S. Conference of Mayors and the National Association of Realtors have joined forces to address how the two organizations can work together to promote affordable housing.

Speaking before the realtors' annual meeting in New Orleans, November 8, U.S. Conference of Mayors Trustee and North Little Rock Mayor Patrick Henry Hays said, "The time has come for mayors and realtors to work together on the national and local level to make our communities more livable, promote homeownership and address affordable housing issues." Mayor Hays then signed a memorandum of cooperation with incoming NAR president Catherine B. Whatley of Jacksonville, FL.

The realtors also announced at their meeting a new initiative called "Affordable Housing Opportunities" which will encourage their 850,000 members to become more involved with mayors in supporting affordable housing policies and projects.

Conference President Boston Mayor Thomas M. Menino, who has made housing a top priority during his year as president, said, "I congratulate the National Association of Realtors on the launch of its Housing Opportunity Program. I am looking forward to working with the NAR to address the various issues that impact access to affordable housing opportunities in both the rental and ownership segments of the market."

The NAR will become a member of the Conference's Council for Investment in the New American City, a consortium of mayors, businesses, the real estate finance industry, developers, and non-profits organized to promote increased investment in cities. The Council is chaired by Detroit Mayor Kwame M. Kilpatrick.

"The lack of housing opportunities is dividing America into two nations, one of 'housing haves' —families who bought property before the price explosion or who can afford high prices—and another of 'housing have-nots,' who scale down their expectations and make lifestyle sacrifices to afford adequate shelter," said NAR outgoing president Martin Edwards Jr. of Memphis, TN.

Edwards told the delegates that realtors have a stake in seeing that residential housing markets thrive and business and commercial sectors prosper. "These can occur only when there are plentiful affordable housing opportunities—rental as well as ownership—for all economic groups. Healthy communities require affordable housing opportunities," he said.

The NAR's housing opportunity program will educate its members about the importance of counseling consumers on housing options and to introduce realtors to business opportunities in affordable housing. The program will also provide research on such topics as the effect of affordable housing on neighboring residential values, and community issues surrounding affordable housing opportunities.