Top housing associations place bets on politics
As election season looms closer, top housing associations are quickly pouring money into candidates they favor. The National Association of Realtors has already contributed $1.4 million to federal candidate, according to an article in MarketWatch.
Housing groups have already spent millions of dollars this election season, and check-writing is sure to ramp up over coming months. Given the partisan gridlock in Congress, one might wonder why the industry would bother to invest so much in lawmakers who may accomplish very little. The answer is simple: advocates must use every opportunity to promote their position.
“A trade group representing an industry cannot be caught on the sidelines and unprepared,” said Brian Gardner, an analyst at Keefe, Bruyette & Woods, a New York-based investment bank. “Groups and advocates want to be proactive and always try to build political capital, even when the prospects of legislation are low.”