Realtors(R) Join Business Roundtable in Calling for Renewed Focus on Housing Stabilization

WASHINGTON, DC, Jun 10 (MARKET WIRE) --
The following is a statement by National Association of Realtors(R)
President Charles McMillan:

"NAR and our 1.2 million members applaud the Business Roundtable for its
sound policy recommendations put forth to reinvigorate our nation's
housing market. The proposal they announced today is consistent with the
recommendations NAR has advocated and reflects the critical need to
continue efforts to bring stability to the housing market.

"As President Barack Obama, U.S. Treasury Secretary Timothy Geithner and
Federal Reserve Chairman Ben Bernanke have all noted, there can be no
economic recovery without stabilization in the housing market. We believe
NAR's recommendations, along with those from other groups like BRT, are
necessary and need to be implemented quickly.

"NAR has called on Congress and the Obama administration to expand the
first-time home buyer tax credit to all home buyers, regardless of income.
In addition, it is imperative to maintain mortgage interest rates below 5
percent, make the loan limit increases permanent, and strengthen
foreclosure mitigation and loan modification efforts. These are all
actions that BRT is fully supporting and we welcome their involvement.

"We look forward to working with the BRT and urge Congress and the
administration to continue to put measures in place to reduce foreclosures
and housing inventory, and stabilize home values."

The National Association of Realtors(R), "The Voice for Real Estate," is
America's largest trade association, representing 1.2 million members
involved in all aspects of the residential and commercial real estate
industries.

Information about NAR is available at www.REALTOR.org. This and other news
releases are posted in the Web site's "News Media" section in the NAR
Media Center.

REALTOR(R) is a registered collective membership mark which may be used
only by real estate professionals who are members of the NATIONAL
ASSOCIATION OF REALTORS(R) and subscribe to its strict Code of Ethics. Not
all real estate agents are REALTORS(R). All REALTORS(R) are members of
NAR.

For further information contact:
Mary Trupo
202/383-1007
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