Joining his MBA colleagues at a press briefing this week, MBA Chairman James M. Murphy said "we're supporting the development of new multi-family production; our new rental housing production program will call on the House [of Representatives to take action]." The program calls for the use of Federal Housing Authority mortgage insurance, along with interest-rate subsidies, to spur private developers to create rental housing affordable for families earning between 60% and 100% of the regional median income.

Creating a federal backstop for terrorism insurance is a goal the association has been working toward since shortly after the September 11 attacks. "As a result of the World Trade Center calamity, insurance premiums on buildings have increased 30% to 400%, and deductibles have all increased," Murphy noted. The House passed terrorism insurance legislation before recessing for the year in December, but the Senate failed to pass a version in its chamber. "The real estate [industry] roundtable is joined together to press the issue with congress," Murphy said. "We have to confuse them with the facts…as to how this is influencing commercial real estate."