Realtors® visit state Capitol in support of House Bill 1981

More than 100 Realtors® visited the state Capitol Tuesday to urge legislators to pass House Bill 1981, the First-Time Homebuyers Saving Account legislation.

The day started with a press conference in the Capitol rotunda, where PAR president Todd Umbenhauer began, speaking of seeing many first-time homebuyers struggle to come up with the money to cover closing costs.

Rep. Ryan Bizzarro (D-Erie), co-sponsor of the bill, said, “Our research shows that 80 percent of Pennsylvanians support the creation of a First-Time Homebuyers Savings Account Program. I believe it’s because homeownership is the embodiment of the American dream.”

The program would help consumers overcome the obstacles to homeownership, such as student loans and low-paying job opportunies, that can make it difficult to save for a down payment.

Rep. Rosemary Brown (R-Monroe), the other co-sponsor of the bill, talked of a recent study that showed the program could increase home purchases by up to 4,000 annually. “This would have an overall positive effect on Pennsylvania’s economy, helping to spur additional economic activity, job creation and higher earnings for households. It’s estimated that the economic impact could be as much as $68.8 million,” she added.

Rep. Sue Helm (R-Dauphin) and Rep. Jamie Santora (R-Delaware), who are also Realtors®, both spoke of their support of the program as well. Helm talked about how the account is not a handout, and she is confident it will help first-time buyers.

Santora added, “The First-Time Homebuyers Savings Account Program is critical to helping more Pennsylvanians achieve their American dream.”

Michelle Fournier, a recent first-time homebuyer, closed the press conference. Fournier spoke of how much money she has spent on rent over the past 15 years, and how student loans impacted her ability to purchase a home earlier. “The First-Time Homebuyers Savings Account Program won’t help me, but it will help many people like me who want what I now have. They want to own a home.”

Companion legislation, Senate Bill 1066 (Mensch, R-Montgomery/Fontana, D-Allegheny), was also introduced in the Senate.

Post-conference, Realtors® met with their local representatives to further advocate for the First-Time Homebuyers Saving Account Program. Contact your legislators now.