Real estate associations financing Boston congressional race

by Michael M. Mazek

With much of the U.S. already deep into the general election campaign for November’s midterms, Massachusetts voters will be among the last in the nation to hold primary elections on Sept. 4. As races throughout the state and Boston approach that deadline, money continues to pour in from donors to candidates. One in particular, Michael Capuano, has attracted significant late-stage funding from real estate interest groups including the National Association of Realtors.

According to federal campaign contribution records compiled by OpenSecrets.org, real estate firms and associations comprise the second-biggest category of contributors to Rep. Capuano’s current campaign. Capuano has represented the state’s seventh congressional district in the U.S. House of Representatives since 1999, and is being challenged in the primary by Boston City Council member Ayanna Pressley. The winner of the Sept. 4 primary in a solidly Democratic district will likely run uncontested in November.

Although recent polls have shown Capuano holds a sizable lead over Pressley, organizations including NAR have made direct contributions as well as in-kind services supporting his campaign valued at hundreds of thousands of dollars. The Boston Globe reported that based on federal records, NAR’s political action committee had spent up to $282,945 on digital advertising, direct mail and polling efforts in support of Rep. Capuano’s primary contest. That included funding for a website, RealtorsForCapuano.com, which promotes the congressman as the right choice for the real estate industry.

As Boston’s WBUR pointed out based on its polling and coverage of the primary contest, Capuano and Pressley have much in common when it comes to policy and ideology. The largest threat to Capuano’s incumbency, according to WBUR sources, would be any perception from voters that he may no longer be truly in touch with local issues. They also note a broader fear among national Democratic Party leaders that incumbent seats may be in jeopardy on the heels of an upset in New York’s recent Democratic primary.

However, it wasn’t clear if Pressley and Capuano held starkly different views on issues that impact the real estate industry. The Boston Globe pointed out that Capuano currently sits on the House Financial Services Committee which holds sway over legislation that may relate to housing policy. And the NAR-sponsored website noted that Capuano played a role in delaying the 2015 implementation of the TILA-RESPA Integrated Disclosure rules that may have adversely impacted the closing process.

Read More Related to This Post

Join the conversation

Oops! We could not locate your form.