September 30, 2022
National Flood Insurance Program (NFIP) Was Set To Expire September 30, 2022
NFIP’s authority to provide flood insurance was expected to expire today, September 30, 2022 at midnight. However, NAR has been working to secure a long-term reauthorization of the program. In fact, the Senate passed a resolution on September 29 for an extension to December 16. The House will likely occur to vote prior to the distribution of today’s Advocate. The House vote should followed by President Biden’s signature before midnight on Friday. Learn more.
Carolina Core Real Estate Economic Development Summit
The Carolina Core Real Estate Economic Development Summit took place Tuesday, September 13. Over 600 attendees gathered in Sanford, NC to take a regional look at economic development. Attendees included commercial and residential REALTORS®, state and local officials, builders, economists and members of the public.
With assistance from an NC REALTORS® Innovative Grant, Greensboro Regional REALTOR® Association (GRRA), Longleaf Pine Association, High Point Regional Association of REALTORS® (HPRAR) and NCR GADs collaborated with Carolina Core, and other local REALTOR® associations to put together the informative 3-hour event, which discussed growth opportunities in the NC Carolina Core. Presenters spoke about housing needs, jobs, encouraging business growth, utilizing the area mega sites, and the significance of regional approaches to economic growth. Speakers included Wendy Harris, NCR President; Darrell Frye Chair, Randolph County Board of Commissioners; former mayors Chet Mann of Sanford and Robbie Perkins of Greensboro; and the keynote speaker Chris Chung, CEO of the Economic Development Partnership of North Carolina.
According to data from Carolina Core, more than 37,900 office and industrial jobs have been advertised in the area since 2018. This particular stretch of land in North Carolina is primed for growth and development. Wolfspeed, VinFast, BOOM Supersonic, and the Toyota EV Battery plant have already announced plans to build factories in the Carolina Core Region. North Carolina has stepped up and accepted this growth with pleasure and the state and its residents will benefit for years to come.
The success of the Summit will likely make this an annual event. Carolina Core will continue its regional efforts to spur economic growth and prepare the area for future growth.
Interest Rates Have Increased Again, So What’s Next?
There is a home price drop across the nation. The Federal Reserve recently made it’s third big interest rate hike in a row. What does all of this mean for you, should be concerned? Will this help or hurt our current home affordability crisis? Don’t try to unravel the facts on your own! Join us at 2022 SORE conference. Economist Dr. Lawrence Yun will explain exactly how all of this impacts the nation, NC, and the real estate industry. Can’t attend in person, no worries, join us remotely and best of all registration is FREE! For the complete SORE agenda and to register, click here. Unless you plan on attending in person, please select the remote registration path.
Don’t forget, we are celebrating you with our fifth annual #iBackthePAC day on October 6, 2022! #iBackthePAC Day is a celebration of NC REALTORS® PAC and the people who invest in the REALTOR® Party and our industry. Learn more.
If you have any inquires about the Advocate, please contact Pam Melton, Director of Political & External Communications.