NAHB NEWS - President Trump Signs Executive Order on Housing Affordability
NAHB - June 25, 2019
In a key victory for NAHB, President Trump today put housing at the forefront of the national debate by signing an executive order that cites the need to cut costly regulations that are hampering the production of more affordable housing in America.
NAHB Chairman Greg Ugalde attended the White House signing ceremony and provides further analysis on what the executive order means for our members in the video at the bottom of this blog post.
Ugalde also issued the following official statement:
“NAHB applauds President Trump 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.
“Given that homeownership historically has been part of the American dream and a primary source of wealth for most American households, the need to tackle ongoing affordability concerns is especially urgent. As we celebrate National Homeownership Month, we must ensure that homeownership remains in reach for younger and future generations. This can be achieved by providing access to affordable rental housing and growing the inventory of for-sale housing, particularly at the entry-level.
“NAHB analysis has found that regulations 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. We are pleased that the president’s executive order calls for the formation of a White House Council chaired by HUD Secretary Ben Carson that will seek to reduce regulatory barriers that are making housing more costly.”
More Progress on the Affordability Front
Addressing the housing affordability crisis is the association’s top priority. NAHB has met with top White House officials and leaders of Congress numerous times to discuss strategies to resolve supply-side constraints that are acting as barriers to increase the production of quality, affordable housing.
During the first week in June, NAHB and HUD cosponsored the Innovative Housing Showcase that took place on the National Mall. The event provided a great opportunity to shine a spotlight on the nation’s housing affordability crisis and to seek meaningful solutions.
Industry and policy experts – including Cabinet secretaries, members of Congress and NAHB leaders – participated in several panels with the goal to seek innovative solutions to make housing more affordable. Exhibitors also featured model homes and new technologies designed to increase affordability.
And on June 5, nearly 700 builders went to Capitol Hill and held 300 individual meetings with their representatives and senators as part of NAHB’s 2019 Legislative Conference. Builders delivered an important message to members of Congress: There is an urgent need to implement practical solutions to ease the nation’s affordability woes and enable more families to achieve homeownership or have access to affordable rental housing.
NAHB will continue to work with the White House, HUD Secretary Carson and Congress to achieve these goals.