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National Association of Realtors pleads to government

The National Association of Realtors recently pleaded with the government to better the housing market.

The National Association of Realtors recently pleaded with the government to better the housing market.

The National Association of Realtors recently released a statement from Moe Veissi, the organization's president, that urged the government to repeal proposals that President Barack Obama recently revealed in his budget.

The NAR is the largest trade association in the United States and represents 1 million members involved in all aspects of the residential and commercial real estate industries.

The organization is strongly against certain aspects of Obama's budget proposal that would limit itemized deductions, including mortgage interest deductions, for thousands of families in the country.

"NAR also strongly opposes eliminating capital gains treatment for any carried interest of a real estate investment partnership," Veissi said. "The loss of capital gains treatment for income from a carried interest could disrupt the conventional business model and places an unfair tax burden on general partners - ultimately this would negatively impact commercial real estate investment."

The Obama administration also recently released its January Housing Scorecard, which showed positive trends in the real estate market, which might make it easier for Americans interested in packing and moving into their dream homes.