Tag: Jeffrey DeBoer

The Real Estate Roundtable Announces BXP’s Owen D. Thomas as New Chair

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Thomas to Succeed Kathleen McCarthy Baldwin as Chair July 1

(WASHINGTON, D.C.) — The Real Estate Roundtable’s (RER) Board of Directors has elected Owen D. Thomas (Chairman and Chief Executive Officer, BXP) to begin his three-year term as Roundtable Chair on July 1, 2026. He succeeds Kathleen McCarthy Baldwin (Former Global Head of Real Estate, Blackstone), who has served as Roundtable Chair since July 1, 2024.

“I am honored to serve as Chair of The Real Estate Roundtable and to build on the organization’s longstanding tradition of fact-based, bipartisan advocacy on national public policy issues,” said Thomas. “Real estate plays a vital role in communities across the country by supporting jobs, investment, housing, and economic growth. Today we are in a time of significant economic uncertainty resulting from inflation, global tensions, the growing use of artificial intelligence and the reimagining of how business and people use work and living space.  I look forward to working with our members and staff to advance modern, sustainable policies that support investment, encourage development, and help the industry respond to the country’s evolving needs for how people live, work, shop, and connect.”

Thomas is a recognized leader in the real estate industry with more than 35 years of executive leadership, strategic planning, management and international experience, as well as substantial experience in financial and capital markets. Mr. Thomas has served as the CEO and a director of BXP since April 2013, and was appointed Chairman of the Board in May 2022.

“Kathleen has been an exceptional leader for The Real Estate Roundtable, and I am honored to succeed her as Chair,” Thomas added. “Her steady leadership, strategic insight, and deep commitment to the industry have helped position the organization to address some of the most important policy issues facing commercial real estate and the broader economy.”

Outgoing Chair Kathleen McCarthy Baldwin said, “It has been a privilege to serve as Chair of The Real Estate Roundtable. Over the past two years, The Roundtable successfully navigated major housing and tax legislation before Congress, advanced significant policy ideas related to energy use in buildings, and helped policymakers address challenges associated with capital investment, both foreign and domestic. Owen is an extraordinary leader who pairs deep real estate experience with policy savvy. I am confident he will be an outstanding Chair and a strong voice for the real estate industry in Washington.”

Roundtable President and CEO Jeffrey D. DeBoer said, “Kathleen has provided exceptional leadership to The Real Estate Roundtable. She brought a thoughtful, principled, and forward-looking perspective to our work, and her guidance helped strengthen The Roundtable’s engagement on key issues affecting commercial real estate.”

DeBoer added, “We are thrilled to welcome Owen Thomas as our new Chair. Owen is one of the industry’s most respected leaders, with broad experience across real estate, capital markets, and global business. He has long been a valued member of The Roundtable’s Board, and his leadership will be instrumental as we continue advancing practical policy solutions that support investment, job creation, and healthy communities nationwide.”

Also joining The Roundtable’s Board of Directors as of July 1:

  • Ben Brown, Managing Partner | Co-President, Brookfield Properties
  • Sean Burton, Chairman and CEO, Cityview
  • Giovanni Cutaia, President of Blackstone Real Estate, Blackstone
  • Dan Letter, CEO, Prologis
  • Benjamin Schall, CEO & President, AvalonBay Communities, Inc.
  • Leslie Teskey, Managing Principal/Tenant Representative, Cresa; 2026 President, CREW Network
  • Willy Walker, Chairman & CEO, Walker & Dunlop; Representative, Mortgage Bankers Association

The Roundtable also thanks the following board members for their years of service as they rotate off the Board as of July 1:

  • Brian Kingston, Managing Partner and Chief Executive Officer, Brookfield Property Partners
  • Jodie McLean, Chief Executive Officer, EDENS
  • Mark Parrell, Chief Executive Officer, President, Equity Residential
  • Matthew G. Rocco, Sr., President, Colliers, Immediate Past Chair, Mortgage Bankers Association
  • Alexander D. Thomson, FRICS, Founder, Prevail Consultants, Immediate Past Chair, NAIOP, the Commercial Real Estate Development Association

See the complete list of the FY2027 Board of Directors.

About Owen Thomas

Owen D. Thomas is the Chairman and CEO of BXP. He was a Director of Lehman Brothers Holdings from 2012 to 2025 and served as its first Chairman from 2012 until 2013 when he joined BXP. Prior to Lehman, Mr. Thomas was with Morgan Stanley for 24 years serving in a number of different roles, business units and locations, including Chief Executive Officer of Morgan Stanley Asia and Chairman of Mitsubishi UFJ Morgan Stanley Securities, while living in Hong Kong from 2008 until 2011. He also held the roles of President of Morgan Stanley Investment Management, Head of Morgan Stanley Real Estate and served on Morgan Stanley’s Management Committee from 2005 until 2011.

Mr. Thomas is Chair of The Real Estate Roundtable, a member of the Advisory Board of Governors of the National Association of Real Estate Investment Trusts, a member of the Economic Club of New York, and a member of the Board of Directors of The Doe Fund and the Board of Trustees for Carnegie Hall. He is former Chairman of the Urban Land Institute and of the Pension Real Estate Association. He attended and is Chairman of the Board of Trustees of Woodberry Forest School and received a B.S. in Mechanical Engineering from the University of Virginia and an M.B.A. from Harvard Business School.

Op-Ed Calls for Action on Aging Federal Buildings

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Real Estate Roundtable (RER) President and CEO Jeffrey D. DeBoer joined General Services (GSA) Administrator Edward C. Forst and JBG SMITH Chairman and CEO Matt Kelly in a Washington Times op-ed this week, urging Congress to address chronic underinvestment in the federal government’s real estate portfolio as the nation approaches its 250th anniversary. (Washington Times, May 13)

Federal Building Backlog

  • The op-ed warns that the federal government is “depriving one of its largest real estate portfolios of investment,” eroding asset value and driving up long-term costs for taxpayers. (Washington Times, May 13)
  • The authors note that federally owned buildings are deteriorating because GSA lacks timely access to resources for basic upkeep, even as agencies pay rent into the Federal Buildings Fund. (Washington Times, May 13)
  • Administrator Forst reinforced that message during a May 13 Senate Appropriations hearing on GSA’s FY2027 budget request, urging Congress to give GSA full annual access to the fund, stop redirecting it to non-GSA programs, and raise the prospectus threshold for routine repairs. (Senate Appropriations Subcommittee Hearing, May 13)
  • Administrator Forst testified that Congress has diverted $15.6 billion from the Federal Buildings Fund since 2011, while GSA’s repair backlog has increased by 408% to roughly $50 billion, leaving nearly half of its inventory in “fair” or “poor” condition. (Forst Testimony, May 13 | Legis1, May 7)

Why It Matters

  • The op-ed contrasts private-sector real estate management with a federal process that can take more than 400 days just to approve routine repairs—nearly as long as it took to build the Empire State Building. (Washington Times, May 13)
  • “Delayed spending is value destruction,” the authors write. “In the federal system, delays are built into the process.” (Washington Times, May 13)

The op-ed urges Congress to align resources, incentives, and execution authority so GSA can preserve asset value, support federal workers, and protect historic public buildings.

Roundtable Leaders Recognized on Commercial Observer’s 2026 Power 100 List

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Commercial Observer this week released its 2026 “Power 100” list of leading commercial real estate executives, recognizing numerous Real Estate Roundtable (RER) members, board leaders, and RER President and CEO Jeffrey DeBoer among the industry’s most influential voices. (Commercial Observer, May 12)

Power 100 List

  • Commercial Observer’s annual list highlights the executives and organizations shaping the future of commercial real estate across capital markets, development, housing, office, data centers, and emerging investment trends.
  • In introducing this year’s list, Commercial Observer noted, “The story of real estate over the last year has been its own crazy quilt. One big strand of the story has been the surge in artificial intelligence, and the incumbent data centers, power sources, and office space necessary to cater to it.” (Commercial Observer, May 12)

Roundtable Leaders Recognized

  • Commercial Observer highlighted DeBoer’s work in Washington to prevent major federal legislation from undermining real estate investment, while also advancing key industry priorities, including extending the Opportunity Zone program through 2032 and increasing state allocations of Low-Income Housing Tax Credits. (DeBoer’s listing)

DeBoer also emphasized the importance of private capital in meeting the nation’s housing needs. “The demand is constantly increasing for housing, so you have to have a dynamic supply chain that meets the demand, and part of that requires capital,” he said. “Where does capital come from if you want to meet that challenge

The Roundtable’s Jeffrey DeBoer Recognized as One of DC’s “Top Lobbyists” for 2025

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The Real Estate Roundtable (RER) President & CEO Jeffrey DeBoer was  recognized this week as one of the “Top Lobbyists” in Washington, D.C. for 2025, according to the prominent policy news publication, The Hill. This marks the eighth consecutive year that DeBoer has received this honor. (The Hill, Dec. 11)

  • The publication noted their annual list highlights the “industry’s savviest, most influential and well-connected advocates” who have made a meaningful impact on the course of policy and politics over the past year.
  • DeBoer stated, “I am honored to receive this recognition. And I share it with The Roundtable’s exceptional advocacy team and our deeply engaged membership. Together, we navigated the unprecedented pace and complexity of national policy debates this past year. From safeguarding long-standing tax rules in the historic One Big Beautiful Bill Act and preserving the ENERGY STAR program to pushing back on proposals that would have undermined real estate credit or discouraged investment, we ensured that the industry’s priorities were reflected in legislation that strengthens local budgets, economic growth, and job creation.”
  • DeBoer added, “We will continue working with policymakers to advance practical, pro-growth solutions that strengthen local economies, modernize energy and permitting systems, expand housing opportunities, and enhance long-term competitiveness.”

Roundtable on the Road

  • This week, Roundtable on the Road held a member gathering in Dallas hosted by RER Board members Ross Perot, Jr. (Chairman, Hillwood; Chairman, The Perot Group) and Kenneth Valach (CEO, Crow Holdings Development), along with RER member Michael Levy (CEO, Crow Holdings). The event brought together local real estate leaders for a candid discussion about federal policy developments in Washington and market conditions across the Southwest.
  • RER Chair Kathleen McCarthy (Global Co-Head, Blackstone Real Estate) and President & CEO Jeffrey DeBoer outlined the organization’s 2026 priorities and heard directly from members about challenges and opportunities facing regional markets.
  • RER SVP & Counsel Ryan McCormick spoke at the AICPA conference in Las Vegas this week, outlining the major tax issues shaping real estate investment, including the implications of the One Big Beautiful Bill Act, partnership tax developments, and the political outlook for additional tax changes in 2026. He emphasized that even modest adjustments to long-standing tax rules can significantly affect capital formation, investment decisions, and the economics of real estate ownership. (AICPA Conference – Watch Session)

All RER policy advisory committees will meet in person at the State of the Industry Meeting scheduled for Jan. 21-22, 2026.

RECPAC Meeting Examines Market Shifts, AI’s Impact, and Fed Uncertainty

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The Real Estate Roundtable’s Real Estate Capital Policy Advisory Committee (RECPAC) convened this week in New York to discuss market conditions, the evolving political and regulatory landscape, and emerging trends reshaping commercial real estate—including artificial intelligence (AI) infrastructure and the Federal Reserve’s policy trajectory.

Fall RECPAC Meeting

  • RECPAC met Thursday, under the leadership of RECPAC Co-Chairs Bryan McDonnell (Head of U.S. Debt and Chair of Global Debt, PGIM Real Estate), Rex Rudy (EVP, Head of Commercial Real Estate, US Bank), Miriam Wheeler (Global Head Real Estate Finance, Goldman Sachs Asset Management), and Working Group Chair Eric Wu (Sr. Managing Director, Real Estate, Blackstone) to discuss top policy issues heading into 2026.
  • RER Chair Kathleen McCarthy (Global Co-Head, Blackstone Real Estate) kicked off the meeting by welcoming RECPAC members and sharing her insights on real estate credit and capital markets. Other discussions included:
  • Roundtable Senior Vice President Chip Rodgers moderated a fireside chat with Alex Katz (Sr. Managing Director of Government Relations, Blackstone) and discussed the political environment, the recent elections, and issues affecting financial services policy, credit capacity, and capital formation.
  • Trey Morsbach (JLL Capital Markets) moderated a roundtable discussion with Kwasi Benneh (Morgan Stanley), Dan Mullinger (PNC Real Estate), Joel Traut (KKR), and Michael Lavipour (Affinius Capital) on real estate credit markets, liquidity, pricing, and financing.
  • Frank Long (Goldman Sachs) hosted a fireside chat with Eric Wu (Blackstone), followed by a discussion with Brian Baker (J.P. Morgan), Quynh Tran (SMBC), and Andrew Winchall (Blackstone Real Estate Debt Strategies) on the economics and energy demands of Artificial Intelligence (AI). AI is reshaping commercial real estate, as the massive energy demands and high costs of data centers redefine investment and financing metrics.

Interest Rates & The Fed

Tom Barkin
  • The Bureau of Labor Statistics released its September jobs report this week, but due to the government shutdown, it will not publish October or November payroll data until Dec. 16—a week after the Federal Reserve’s Dec. 9-10 policy meeting. (Axios, Nov. 20)
  • The absence of timely data is compounding internal divisions, as minutes show policymakers split over further rate cuts amid high inflation and weakening labor indicators. (Axios, Nov. 19)
  • Richmond Federal Reserve President Thomas Barkin noted the economy is in an “unattractive” balance and said upcoming data will be essential to determining the path forward. (Reuters, Nov. 18)
  • On Monday, Fed Governor Christopher Waller said a December cut was needed to stem further job-market deterioration. (NBC News, Nov. 20)
  • Speaking at the Central Bank of Chile Centennial Conference this morning, New York Fed president John Williams said, “I still see room for further adjustment in the near term to the target range for the federal funds rate to move the stance of policy closer to the range of neutral.” (Axios, Nov. 21)

Roundtable on the Road

  • RER Senior Vice President & Counsel Ryan McCormick spoke at NYU’s Institute on Federal Taxation in San Francisco this week, outlining key One Big Beautiful Bill (OB3) Act implementation priorities, prospects for future real estate tax legislation, and major litigation and guidance affecting partnerships and real estate transactions.
  • Also this week, RER President & CEO Jeffrey DeBoer participated in Commercial Property Executive’s 2026 CRE Outlook webinar, highlighting interest rates, energy and housing affordability, immigration reforms, TRIA reauthorization, and capital-access challenges as key issues for the year ahead. He added that, despite uncertainty around tariff policy, “betting against the U.S. is a bad bet.” (Commercial Property Executive, Nov. 19)

Next on RER’s meeting calendar is the all-member State of the Industry (SOI) Meeting, which will include policy advisory committee sessions, on January 21-22, 2026, in Washington, DC.

Government Reopens After Record Shutdown; Key Housing and Insurance Programs Restored

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The federal government reopened late Wednesday after a 43-day shutdown, the longest in U.S. history, as Congress approved a short-term funding bill keeping agencies running through Jan. 30, 2026.  (The Hill, Nov. 13)

State of Play

  • The Senate approved the bipartisan package Monday night in a 60–40 vote, with seven Democrats and Angus King (I-ME) joining Republicans to advance the deal. Sen. Rand Paul (R-KY) was the only Republican “no” vote. (Punchbowl News, Nov. 12)
  • The House passed the measure on a 222–209 vote, with six Democrats joining all but two Republicans, on Wednesday night. President Trump signed the bill hours later, ending weeks of halted federal services, frozen benefits, and widespread economic disruptions. (Washington Post, Nov. 12)
  • “This is no way to run a country,” Trump said while signing the bill that ended the shutdown. “I hope we can all agree the government should never be shut down again.” (Roll Call, Nov. 12)
  • The agreement includes full-year FY2026 appropriations for Agriculture, Veterans Affairs, and the Legislative Branch, while extending funding for all other agencies for 11 additional weeks. The deal reverses thousands of federal layoffs proposed during the shutdown and guarantees back pay for more than 1.25 million furloughed or unpaid federal employees. (Punchbowl News, Nov. 13)
  • In exchange, Senate Majority Leader John Thune (R-SD) guaranteed Senate Democrats a mid-December vote on extending the Affordable Care Act’s enhanced tax credits. Extending the health insurance subsidies was the Democrats’ primary demand during the shutdown. Speaker Mike Johnson (R-LA) made no promise for a similar vote in the House.  (Politico, Nov. 12)

What’s Restored: NFIP, HUD Programs, Federal Services

  • National Flood Insurance Program (NFIP): The NFIP, which lapsed during the shutdown, has been temporarily reauthorized through Jan. 30. New policies can now be issued and existing policies renewed, removing a major barrier for commercial and residential transactions. This is the program’s 34th short-term extension since 2017 as lawmakers continue pursuing a long-term fix.
  • Section 8 & HUD Rental Assistance: HUD is authorized to repurpose carryover funds within the Housing Choice Voucher Program to ensure the full renewal of existing rental assistance at current fair market rents through Jan. 30. This measure prevents disruptions for property owners and the millions of low-income households relying on stable voucher support. (PoliticoPro, Nov. 11)
  • Other Federal Operations: SNAP benefits for 42 million Americans will resume in full, while air traffic control, TSA operations, farm loan processing, and other federal services return to normal as national parks and benefits offices reopen. The agreement also halts proposed federal layoffs through the end of January.

What’s Next

  • “Reopening the government is a welcome and necessary step that restores stability to federal operations, housing programs, and the broader economy,” said Jeffrey DeBoer, President and CEO of The Real Estate Roundtable. “It also restores the federal economic data that lenders and investors rely on to plan and facilitate transactions.”
  • Major hurdles remain, including the lack of an agreed-upon topline spending level, the Senate’s push to advance a five-bill package that includes Transportation-HUD, and the House’s need to accelerate committee work after weeks of inactivity.
  • FY2026 funding bills for Energy, EPA, Homeland Security, State, and Treasury/IRS still require difficult bipartisan negotiations.

Another shutdown is possible if Congress fails to meet the Jan. 30 deadline.

Kathleen McCarthy to Depart Blackstone

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Blackstone announced this week that Kathleen McCarthy, global co-head of Blackstone Real Estate, will step down from the firm at the end of the year after an impactful 15-year tenure. As Chair of The Real Estate Roundtable (RER), she will continue to lead the organization’s policy agenda, member engagement and industry outreach. (Bloomberg | CoStar, Nov. 11)

  • McCarthy said: “It is a privilege to serve as chair of The Real Estate Roundtable and work positively alongside industry leaders I deeply respect. I look forward to continuing to do so as the next chapter in my professional career evolves.”
  • Jeffrey DeBoer, RER President and CEO, stated, “Kathleen’s leadership of The Roundtable will continue to strengthen our advocacy program, enhance service to our membership, and deliver positive national policy results for the industry.”

Next on RER’s meeting calendar is the all-member State of the Industry (SOI) Meeting, which will include policy advisory committee sessions, on January 21–22, 2026, in Washington, DC.

Fed Cuts Rates in Welcome Move for CRE

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On Wednesday, the Federal Reserve reduced its benchmark interest rate by 25 basis points, marking the first rate cut since December 2024. Central bank officials also projected two additional rate reductions this year, citing growing concerns about labor market softening and economic headwinds.

Fed’s Decision

  • The Fed’s move brings its target federal funds rate to a range of 4 percent to 4.25 percent, aligning with expectations on Wall Street. (CNBC, Sept. 17)
  • Fed Chair Jerome Powell emphasized that while inflation remains above the 2 percent target, rising signs of labor market weakness justify a more accommodative stance.
  • Governor Stephen Miran, confirmed to the Fed Board on Monday, cast the lone dissent in favor of a steeper half-point cut.
  • The central bank’s latest projections signal two more rate cuts before year-end, though the “dot plot” of officials’ individual expectations varied considerably.

Housing Impact

  • Mortgage rates have responded quickly to the Fed’s decision, falling to 6.17 percent as of Thursday—the lowest level in nearly a year. (Fortune, Sept. 18)
  • However, mortgage rates remain elevated compared to pre-pandemic levels, leaving many prospective homebuyers priced out. Home values remain roughly 50 percent higher than at the start of the decade. (AP News, Sept. 18)
  • Chair Powell acknowledged that monetary policy alone cannot solve the nation’s housing affordability crisis. “There’s a deeper problem here, that’s not a cyclical problem that the Fed can address, and that is just a pretty much nationwide housing shortage,” he said. (CNN, Sept. 17)
  • The Real Estate Roundtable (RER) continues to advocate for bipartisan solutions that increase housing supply and reduce regulatory barriers to new development, such as the Road to Housing Act (S. 2651) and the Revitalizing Downtowns and Main Streets Act (H.R. 2410).

Implications for CRE

(L-R): Jef Conn, Jeffrey DeBoer, and Shannon McGahn
  • The Fed’s rate cut comes soon after the release of RER’s Q3 2025 Sentiment Index, which reflected cautious optimism among CRE executives. The Index rose 13 points from last quarter to a score of 67, as signs of stabilization and sector-specific growth have started to emerge. (Roundtable Weekly, Sept. 5)
  • Interest rate cuts could provide a modest tailwind for CRE markets, although some property types remain under pressure.
  • Further reductions in borrowing costs into 2026 could support more robust valuations and transaction activity. (Multifamily Dive, Sept. 17)
  • At the 2025 C5 + CCIM Global Summit in Chicago this week, RER President & CEO Jeffrey DeBoer joined Shannon McGahn (Executive Vice President and Chief Advocacy Officer, National Association of REALTORS®) and Jef Conn (Industrial & Office Specialist, Coldwell Banker Commercial Capital Advisors) on a panel to discuss the bipartisan nature of the nation’s affordable housing crisis.
  • DeBoer emphasized the need for a construction visa program to expand the labor force and build more supply, along with policies such as YIMBY legislation, property conversion incentives, and permitting reforms to help address the crisis.

The Fed’s next rate decision is scheduled for Oct. 29, with the final FOMC meeting of the year set in early December.

DeBoer Spotlights CRE Priorities, Calls for Unity at Connect Apartments 2025

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(L-R): Hessam Nadji (Marcus & Millichap), Barry Altshuler (Equity Residential), Tom Bannon (California Apartment Association), Jeffrey DeBoer (Real Estate Roundtable), Daniel Ceniceros (Connect Media)

At Connect Apartments 2025 in Los Angeles this week, Real Estate Roundtable (RER) President and CEO Jeffrey DeBoer delivered the keynote Q&A session, outlining top legislative and regulatory priorities in the coming months.

Remarks

  • His remarks covered implementation of new tax rules on bonus depreciation and expensing, expansion of the Low-Income Housing Tax Credit, policies to encourage new housing supply, efforts to enhance energy grid access, and preparation for the scheduled 2027 expiration of the Terrorism Risk Insurance Act (TRIA).
  • Recognizing that his remarks came on Sept. 11, DeBoer emphasized the broader role of industry leaders in fostering collective action.
  • “For the past 24 years, our industry and its leaders have supported individual, business, and policy actions to respond to and prevent terrorism. Today we face a new reality that also requires a collective response,” he said.
  • He continued, “Our personal, social, and political discourse clearly has spiraled in a very dangerous direction. Many are now calling on political leaders to tone down their divisive rhetoric. We agree. But we also strongly believe that political leaders should not act alone. The Real Estate Roundtable, and our leaders, now urge that the millions of people in our industry work to find boundaries to inciteful rhetoric by rejecting actions and language that vilify and denigrate those whose views differ from our own.”

Next Wednesday, the House Financial Services Housing and Insurance Subcommittee will hold a hearing on “The Reauthorization of the Terrorism Risk Insurance Act of 2002.” RER will continue to engage on TRIA renewal and related policy issues.

Roundtable CEO Discusses Measures to Boost Housing Supply at Capitol Hill Summit

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Congress returned from recess this week with housing affordability at the forefront, as lawmakers, industry leaders, and advocates launched new legislation, coalition efforts, and regulatory proposals aimed at expanding supply and lowering barriers to residential development.

Summit on Housing Affordability

  • The National Summit on the Housing Affordability Crisis convened Sept. 3 on Capitol Hill and featured House Democratic Leader Hakeem Jeffries (D-NY), Sen. Ruben Gallego (D-AZ), and other lawmakers calling for bold action to expand and improve the affordability of housing nationwide. Rep. Jimmy Gomez (D-CA) hosted the summit. (Watch Panel)
  • RER President & CEO Jeffrey DeBoer joined Rep. Gomez, Emily Cadik (Affordable Housing Tax Credit Coalition), and Will Fischer (Center on Budget and Policy Priorities) on the summit’s opening panel “Making the Housing Puzzle Work.” (Watch DeBoer’s Remarks, Sept. 3)
  • DeBoer commented, “Housing affordability is at its core a supply problem—and supply is constrained by costs, labor, and capital. We need policies that continue to expand the Low-Income Housing Tax Credit, advance the bipartisan Revitalizing Downtowns and Main Streets Act to encourage the conversion of obsolete buildings, and ensure we have the skilled workforce to build. That’s why it’s so important to bring together lawmakers and stakeholders from every sector, because housing is an essential facet of American life, and solving this crisis requires public and private partners working together to expand supply, modernize rules, and deliver homes—both owned and rental single-family and multifamily—that meet the needs of Americans.”
  • Rep. Gomez highlighted the RER-backed Revitalizing Downtowns and Main Streets Act, which would create a federal tax credit to convert underutilized and obsolete commercial properties into affordable housing.
  • Rep. Gomez framed the affordability crisis as a test of confidence in U.S. institutions, saying America “needs a housing boom” prioritizing fairness and accessibility. (Rep. Gomez Press Release, Sept. 4)

Bipartisan Housing Legislation

  • On Sept. 2, RER joined more than 20 real estate and housing groups in a Housing Affordability Coalition letter to Congress urging action on several bipartisan bills, including the HOME Investment Partnerships Reauthorization and Improvement Act, the Workforce Housing Tax Credit Act, and more. (Letter, Sept. 2)
  • The letter emphasized that housing affordability requires public–private partnerships and the removal of regulatory barriers.
  • Rep. Mike Flood (R-NE), chair of the Housing and Insurance Subcommittee, said he aims for an October markup of a bipartisan HOME program reauthorization with Ranking Member Emanuel Cleaver (D-MO). (PoliticoPro, Sept. 3)
  • Their plan would expand uses of HOME funds, reduce regulatory burdens associated with Davis-Bacon, NEPA, and Buy America compliance, and speed affordable housing development.
  • The House agenda complements the Senate’s ROAD to Housing Act, advanced in July, and includes veteran housing and land-use reform bills. (Roundtable Weekly, Aug. 1)
  • Earlier this week, Treasury Secretary Scott Bessent said the Trump administration is weighing whether to declare a national housing emergency this fall, citing zoning and building codes as barriers to new supply. (Bloomberg, Sept. 1)

Coalition Seeks Flexibility on Davis-Bacon

  • On Sept. 3, RER and a group of multifamily trade associations sent a comment letter to HUD Secretary Scott Turner urging the use of Project Labor Agreements (PLAs) to determine prevailing wages on HUD projects. (Letter, Sept. 3)
  • The letter states that PLAs would provide more accurate, local, and timely wage determinations than the Department of Labor’s (DOL) survey method, which often delays projects and raises costs.  
  • The coalition said voluntary PLAs could reduce administrative burdens, speed delivery of HUD-backed housing, and serve as a test case for future Davis-Bacon reforms.

What’s Next

With Congress back in session, housing advocates are pressing for quick action on bipartisan bills and regulatory reforms. RER will continue to push for policies that expand supply, modernize outdated rules, and foster partnerships to address the nation’s affordability crisis.