National Association of Realtors Versus New Housing Tax Legislation

The National Association of Realtors recently reported on legislation signed into law that will be taxing housing to pay for the extension of the payroll tax, and maintain Medicare payments and unemployment benefits.

Despite the Association’s strong opposition to diverting housing resources to pay for non-housing uses which will increase in fees on mortgages and charges for lower downpayment loans are being used to pay for the extensions.

What is unfortunate is that these increases will translate into additional costs for home buyers and sellers, people who already pay a hefty sum of money to buy and sell their homes.

They speculate that this will divert fees needed to minimize the loss of the government-sponsored enterprises and investors.