How Much Do You Love Your Congressman?
By Wendy Cole
Wednesday’s Capitol Hill meeting between the Indiana Association of REALTORS® and freshman Indiana Congressman Joe Donnelly was nothing short of a lovefest.
When the Indiana association’s VP and federal political coordinator, Paul Wyman, told Donnelly that they’d given him a “100% voting record” on real estate-related issues, the Blue Dog Democrat nearly blushed. “I didn’t even know that,” he insisted.” It’s not like we say we better be right all the time with the REALTORS®. Your issues coincide with what is right.”
Indeed, the fiscal conservative’s consistent support of foreclosure prevention efforts, federal tax credits for first-time home buyers, and other housing stabilization efforts as a member of the Financial Services Committee chaired by Rep. Barney Frank has proved a perfect fit with the interests of struggling Indiana practitioners. (New home sales fell 36% in the Hoosier state last year, while existing-home sales dropped 13%.)
Donnelly conceded that even if the U.S. House and Senate ultimately agreed on a package of initiatives to help struggling borrowers, it will be an uphill battle to keep President Bush from torpedoing the legislation with his veto pen. “We’re intent on putting confidence back into the market,” Donnelly told the contingent of roughly a dozen practitioners from his district in the South Bend-Kokomo region of Indiana.
The spectacular absence of cynicism in the Longworth House Office Building during the visit made me wonder how real estate professionals elsewhere are feeling about efforts from their own members of Congress to tackle the mortgage mess. Are they doing enough? Do you even know where your Senators or Representatives stand with regard to shoring up housing? Let us know what you think. It will help us understand if the amiable Indiana visit with Donnelly was a fluke or not.
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