At a recent Greater Atlanta Home Builders Association (GAHBA) meeting, National Association of Home Builders (NAHB) President and CEO, Jerry Howard, spoke to the not-for-profit professional trade association about the NAHB, its plans for 2013 and how they may affect local home builders.
Howard also discussed various efforts that the NAHB has been involved in to get the housing market back on track. One way the association helped is by brokering a compromise between the entities who invest in securities generated by American mortgages and the government programs which back these instruments. This compromise is essential to the health of the entire real estate market, not just new homes, as currently approximately 90 percent of all new mortgages nationwide receive some sort of federal backing.
In the regulation world, a large number of EPA and OSHA regulations are currently in the process of being implemented that could affect home builders and developers. One specific issue is that more than 200 species of animals, including many that reside in the southeast, are slated to be listed as endangered species. This could be a stumbling block for the continued recovery of the southeastern home building industry, and the appropriate NAHB departments are preparing to address these regulations with legislators and governmental agencies in order to minimize their potential effect on the economy.
Howard further remarked on the current year by saying, “Tax reform is going to be on the table.” Potential items that could be changed include the much beloved mortgage interest deduction and depreciation of real estate investment assets.
All of these items are important to a sustained housing recovery, and the NAHB will be there to protect the interests of both home builders and homeowners.
For more information about local Atlanta home builders and the GAHBA, visit www.atlantahomebuilders.com.