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CREFC Submits Statement to Congressional Hearing

April 30, 2024

CREFC submitted a statement for the record ahead of a House Oversight and Accountability Subcommittee on Health Care and Financial Services hearing titled “Health of the Commercial Real Estate Markets and Removing Regulatory Hurdles to Ensure Continued Strength.”

Click here for the full statement.

The hearing is today at 2:00pm ET and can be livestreamed here.

Witnesses include:

• Jeffrey DeBoer, President and CEO, The Real Estate Roundtable
• Jeffrey Weidell, CEO, NorthMarq

What they’re saying: The subcommittee chair’s press release outlines the goals of the hearing:

“President Biden’s policies throughout the pandemic have directly harmed American businesses by creating a worker shortage and inflation. Businesses are still struggling to recover from the impact of these policies as they face a mountain of debt and take out a record number of loans to pay rent. These businesses – including medical centers, warehouses, and offices – are crucial to our local economies and communities. We look forward to putting a spotlight on this issue and finding solutions to ensure lasting strength for American businesses,” said Subcommittee Chairwoman Lisa McClain (R-MI).

Go deeper: CREFC’s statement provides a brief market update and highlights market and regulatory challenges for CRE.

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