The National Association of Home Builders (NAHB) Chairman Greg Ugalde, provided an update on affordable housing initiatives, [1] including the NAHB’s call to action in Washington D.C.
Ugalde said the NAHB held its annual Legislative Conference in D.C. during the first week of June, and 300 individual members “urged lawmakers” to make policies aimed to increase the production of affordable housing.
“With housing affordability near a 10-year low, we sent a clear message to members of congress that there is an urgent need for solutions to ease the nation’s affordability woes,” Ugalde said.
President Donald Trump has signed an Executive Order last month establishing the White House Council on Eliminating Barriers to Affordable Housing [2], and named Housing and Urban Development [3] (HUD) Secretary Ben Carson as its chairperson.
According to HUD, the new Council will be composed of members from eight Federal agencies, intended to engage with State, local, and tribal leaders across the country to identify and remove the obstacles that impede the production of affordable homes, “namely, the enormous price tag that follow burdensome government regulations.”
“The [National Association of Home Builders] applauds President Trump [4]for making housing a top national priority. With housing affordability near a 10-year low, the president’s executive order on this critical issue underscores that the White House is ready to take a leading role to help resolve the nation’s affordability crisis,” said Greg Ugalde, Chairman of the National Association of Home Builders.”
According to HUD, the construction of new homes has not kept pace with new household formations, because more than 25% of the cost of a new home is the direct result of Federal, State, and local regulations. Among the Council’s responsibilities, is to identify policies that artificially increase the cost of homeownership and reduce regulatory burdens.
In his update, Ugalde also stated the NAHB held its inaugural Innovative Housing Showcase in June in Washington D.C., showcasing the newest technology and housing solutions to make homeownership more affordable.
“Thousands of experience firsthand, the latest innovations in our industry, and how this tech will make housing more affordable,” Ugalde said.