Leaders from the Southwestern Michigan Association of Realtors recently met with U.S. Representative Tim Walberg to discuss ways to improve housing affordability and increase inventory in the region.
Luke Jeffries, CEO of the Southwestern Michigan Association of Realtors, said the meeting was a rare chance to host the congressman locally.
“It’s not often that we get to have him come to us, so this was one of those rare opportunities that we got to meet with him,” Jeffries said.
The discussion focused on federal legislation aimed at easing housing challenges. Jeffries highlighted several bills, including the “More Homes on the Market Act,” which reduces tax penalties for long-term homeowners who sell, and the “Revitalizing Downtowns and Main Streets Act,” which converts underused commercial properties into housing.
“Those two should really help cut some red tape and modernize some HUD programs…to get more households,” he said.
He also noted measures to help first-time buyers, such as the “Uplifting First-Time Home Buyers Act,” which increases the amount that can be withdrawn penalty-free from IRAs for a down payment.
Jeffries expressed cautious optimism about federal progress. “Things move slowly at the federal level…But the bills that are or that have been introduced, I am optimistic about. They are very bipartisan,” he said.
On the local market, Jeffries said inventory remains tight, but he expects a solid summer season if interest rates stay in check. “Our area is unique in that we do have a lot of second-time homebuyers coming in…Overall, we’re optimistic for the year ahead,” he said.
