Breaking News! President Trump put housing at the forefront of the national debate today by signing an executive order focusing on tackling the housing affordability crisis impacting America today. As the economy has strengthened, demand for safe, affordable housing has skyrocketed, but the housing industry has not been able to mean this needed supply. By signing this order President Trump raises this issue to the highest levels in the federal Government.
NAHB Chairman Greg Ugalde stood beside President Trump as the order was signed. Ugalde has put housing affordability at the top of his agenda since taking office in January. He states, “This association played the pivotal role in making this executive order happen. And because of our intimate involvement, the focus of this order is exactly where it needs to be, on the supply side. It gives federal agencies immediate latitude to identify solutions to help ease the pains of this housing crisis. Equally important it requires the government to immediately asses the affordability problem. This will pave the way to help the housing sector meet those consumer needs.”
As one of Chairman Ugalde’s five national advisers, I applaud his work on affordable housing and hope that we can all continue to work together to put some teeth into this executive order.
Chairman Ugalde attended the White House signing ceremony and 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. For more information on what NAHB is doing to help members, visit www.valueofnahb.org