The National Association of Home Builders (NAHB) is a Washington Based trade association representing more than 140,000 members involved in home building, remodeling, multifamily construction, property management, subcontracting, design, housing finance, building product manufacturing and other aspects of residential and light commercial construction. Ed Brady, chairman of NAHB and a home developer in Bloomington, Ill., issued a statement following former Secretary of State, Hillary Clinton’s, recently announced economic revitalization agenda.
“We applaud Secretary Clinton for recognizing the significant role that housing plays in our local communities and economy and being one of the first presidential candidates to present a housing and community development plan that will help boost homeownership, rental housing and employment opportunities for the American people.
“Proposals such as providing a match for down payment savings, emphasizing homeownership counseling and taking steps to improve credit availability for qualified borrowers are all needed steps to boost homeownership. Secretary Clinton also recognizes the acute need to bolster the supply of affordable rental housing by proposing to increase the supply of Low Income Housing Tax Credits and remove local barriers to producing such housing. She also highlighted the importance of job training and apprenticeships as a path to economic opportunity, which the housing sector has a tremendous capacity to provide.
“We appreciate Secretary Clinton’s leadership on these vital issues and for putting housing front and center on the national agenda. We hope her vision will encourage other presidential candidates as they move forward on the campaign trail to focus on how housing can spur job and economic growth, something they have disappointingly yet to do.”
With Clinton’s proposed $25 billion plan which is part of a wider $125 billion “economic revitalization program” it is believed that this will help lift more families into sustainable homeownership, her plan would provide down payment assistance, housing counseling programs, an expansion of credit risk criteria beyond credit scores, more affordable rental housing and clarification of lending rules.