{"id":3074,"date":"2022-04-29T18:43:58","date_gmt":"2022-04-29T18:43:58","guid":{"rendered":"https:\/\/preprod.realtrends.com\/blog\/2022\/04\/29\/nahb-calls-on-biden-to-combat-housing-affordability-crisis\/"},"modified":"2025-03-13T02:41:38","modified_gmt":"2025-03-13T02:41:38","slug":"nahb-calls-on-biden-to-combat-housing-affordability-crisis","status":"publish","type":"post","link":"https:\/\/preprod.realtrends.com\/blog\/2022\/04\/29\/nahb-calls-on-biden-to-combat-housing-affordability-crisis\/","title":{"rendered":"NAHB calls on Biden to combat &#8220;housing affordability crisis&#8221;"},"content":{"rendered":"\n<p>The <strong>National Association of Home Builders<\/strong> is calling on the White House to take on what the trade organization called \u201cthe growing <a href=\"https:\/\/preprod.realtrends.com\/blog\/the-cash-crunch-facing-buyers-in-the-sun-belt\/\" target=\"_blank\" rel=\"noreferrer noopener\">housing affordability<\/a> crisis.&#8221;<\/p>\n\n\n\n<p>In a <a href=\"https:\/\/www.nahb.org\/news-and-economics\/press-releases\/2022\/04\/more-tha-10000-housing-industry-representatives-send-letter-to-biden-warning-of-housing-crisis\" target=\"_blank\" rel=\"noreferrer noopener\">letter<\/a> sent to President Biden on Wednesday, signed by more than 10,000 NAHB members, the group warned that rising housing prices are pushing the housing market to \u201can inflection point that threatens to derail the current housing and economic expansion.\u201d<\/p>\n\n\n\n<p>The trade organization, which represents large and smaller contractors, pointed to numerous problems that have contributed to the crisis. The <a href=\"https:\/\/preprod.housingwire.com\/articles\/its-crazy-homebuilders-big-and-small-struggle-to-finish-projects\/\" target=\"_blank\" rel=\"noreferrer noopener\">high cost<\/a> of building supplies and supply chain woes, <a href=\"https:\/\/preprod.housingwire.com\/articles\/mortgage-rates-hover-in-the-lower-5-range\/\" target=\"_blank\" rel=\"noreferrer noopener\">rising interest rates<\/a>, regulations and a <a href=\"https:\/\/preprod.housingwire.com\/articles\/skilled-labor-is-returning-to-homebuilding\/\" target=\"_blank\" rel=\"noreferrer noopener\">lack of construction workers<\/a> have all played a role, NAHB wrote.<\/p>\n\n\n\n<p>The resulting affordability crisis has been particularly acute for entry-level buyers and renters, the group said.<\/p>\n\n\n\n<p>\u201cOur members in every state across the land are clearly concerned that growing supply chain disruptions and worsening affordability conditions that are harming demand are weakening the housing market,\u201d NAHB chairman Jerry Konter said in a statement. \u201cThe industry believes these challenges will grow worse if meaningful steps are not taken to allow builders to increase the supply of affordable single-family and multifamily for-sale and for-rent housing. If the housing sector falters, the economy will surely follow.\u201d<\/p>\n\n\n\n<p>In a press release, the NAHB said that since August, the volatility <a href=\"https:\/\/preprod.housingwire.com\/articles\/lumber-prices-are-falling-but-builders-still-feel-the-pinch\/\" target=\"_blank\" rel=\"noreferrer noopener\">of lumber prices<\/a> has raised the price of a typical single family home by more than $18,600 and added approximately $10,000 to the cost of a typical apartment. These price increases come when housing affordability is already at a more than 10-year low, according to the latest data from the <strong>NAHB\/Wells Fargo Housing Opportunity Index<\/strong>.<\/p>\n\n\n\n<p>The builders&#8217; letter also included some suggestions for how to tackle the affordability crisis. At the top of the trade group&#8217;s list is eliminating tariffs on Canadian lumber, which it claims work as an added tax on American homebuyers.<\/p>\n\n\n\n<p>\u201cAn important first step to address housing affordability challenges in this current high-inflation environment would be to immediately suspend tariffs on softwood lumber imports from Canada and to move quickly to enter into negotiations with Canada to pursue a new, long-term softwood lumber agreement,\u201d the letter to Biden stated.<\/p>\n\n\n\n<p>The NAHB also called on the White House to address &#8220;federal regulator reform,&#8221; which it claims is placing upward pressures on housing costs.<\/p>\n\n\n\n<p>In the past, NAHB <a href=\"https:\/\/www.nahb.org\/-\/media\/NAHB\/advocacy\/docs\/industry-issues\/federal-regulatory-reform\/department-housing-urban-development-eo-13777-201706.pdf\">pushed for revisions<\/a> to federal fair housing regulations to avoid &#8220;federal encroachment on local land use decisions.&#8221; The group has also criticized guidance that prevented owners of federally assisted housing from evicting tenants on the basis of arrest records.<\/p>\n\n\n\n<p>\u201cReducing burdensome regulations that account for nearly 25% of the price of building a single-family home and more than 30% of the cost of a typical multifamily development will provide more homeownership and rental housing opportunities for all Americans,\u201d the letter said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The National Association of Home Builders is calling on the White House to take on what the trade organization called \u201cthe growing housing affordability crisis.&#8221;<\/p>\n","protected":false},"author":34740,"featured_media":4822,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3255],"tags":[],"coauthors":[1760],"class_list":["post-3074","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-archive"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.4 (Yoast SEO v26.8) - 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