By NAHB
More than 10,000 NAHB members from all 50 states and Puerto Rico sent a letter to President Biden on April 27 calling on the White House to take immediate action as the growing housing affordability crisis is pushing the housing market to an inflection point that threatens to derail the current housing and economic expansion.
Members of the housing community hammered home the following message:
Rising costs stemming from historically high price levels for lumber and other building materials, supply chain bottlenecks, surging interest rates, excessive regulations and a persistent lack of construction workers have significantly decreased housing affordability conditions, particularly for entry-level buyers and renters.
NAHB — through its powerful grassroots — called for meaningful steps to allow builders to increase the supply of affordable single-family and multifamily for-sale and for-rent housing. NAHB warned the White House that if the housing sector falters, the economy will surely follow.
