The amount of third quarter spending on lobbyist is at a record high since 2010 with $2.6 billion spent and the National Association of Realtors is one of the top spenders. The total amount of money expended is up by approximately $30 million over last year and is $100 million more than at this same point in 2017.
Investing $26.4 million on lobbying in the months of July through September, $11.1 million over the budget of the same three month period of last year, NAR President Elizabeth Mendenhall said the boost in lobbying is due to the upcoming midterm election and an increase in candidates’ support for real estate investment and homeownership.
In the third quarter, $400 million dollars was spent by groups relating to finance, insurance and real estate. With NAR in first place, the U.S. Chamber of Commerce ranked No. 2 in highest spending with a budget of $25 million. Other noteworthy high expenders this third quarter included The George Soros-backed Open Society Policy Center with $7.7 million invested, and the California energy giant PG&E Corp with $6.1 million spent.
In other real estate news:
With the Trump administration contemplating new guidelines through U.S. Department of Health and Human Services to define a person’s gender and solve disputes surrounding gender with genetic exams, conversations surrounding the protection and discrimination of the transgender community has erupted throughout the nation. Groups within the real estate community have vocalized their concerns on the issue. “This is cruel and potentially has major