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Apartment experts applaud housing reform

February 16, 2011 - Representatives with the country's apartment groups say they approve of President Obama's plan for housing reform, which seeks to encourage more lower-income Americans to consider moving to rental housing.

Doug Bibby, president of the National Multi Housing Council and speaking on behalf of his own group and the National Apartment Association, said the Obama Administration's plans to roll back government support for the mortgage finance industry is the right move for housing. Bibby adds that the administration's emphasis on affordable rental housing provides much-needed support for many of the nation's credit- and cash-strapped consumers.

One of the principal concepts behind Obama's plan concerns providing support for families that don't have the funds to buy a home. Those families, the administration says, should consider relocating to apartments or rental housing.

"We are encouraged that the administration explicitly notes the need to support rental housing and to return to a housing framework that understands that not every American wants to or should own a house," said Bibby.

Obama introduced his new housing reform plan last week, to mixed reviews from lawmakers and industry groups. Experts from the National Association of Realtors and American Land Title Association cautioned against proposals to eliminate Freddie Mac and Fannie Mae.
 

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