WASHINGTON, DC — A diverse group of housing industry leaders participated in a White House meeting last week to discuss viable solutions to the nation’s housing supply and affordability crisis, two leading industry trade associations reported.
According to the National Association of Realtors and the National Association of Home Builders, representatives of both organizations participated in a wide-ranging discussion regarding potential legislative, administrative, private-sector, state and local actions aimed at addressing housing supply and affordability challenges across the country.
Other housing industry organizations involved in the talks included the Mortgage Bankers Association, National Housing Conference, National Multi-Housing Council, National Low Income Housing Coalition, National Fair Housing Alliance, Bipartisan Policy Center and Affordable Housing Tax Credit Coalition. Joining the talks from the Biden Administration were National Economic Council Director Brian Deese, Domestic Policy Council Director Ambassador Susan Rice, Housing and Urban Development Secretary Marcia Fudge and Federal Housing Finance Agency Director Sandra Thompson, representatives of the NAHB and the NAR reported.
“This was a candid discussion of ideas about how to fill the historic 5.5 million housing unit gap in the U.S.,” said NAR President Leslie Rouda Smith. “Housing supply is the number-one issue for millions of consumers who are locked out of the market. (We) conveyed to the Administration our support for a comprehensive plan that includes investment in new construction, zoning reforms, expansion of financing and tax incentives to spur investment in housing and convert unused commercial space to residential.”
“With the housing market currently in a recession and the nation facing a growing housing affordability crisis, NAHB welcomed the opportunity to meet with top administration officials today to discuss actions policymakers can take to move the housing market forward and boost the economy, added Jerry Howard, chief executive officer of the NAHB.
“NAHB urged the administration to focus on helping to ease building material supply chain shortages that are resulting in housing construction delays and higher home building costs,” Howard said. “We also asked the White House to make it a priority to ensure sufficient liquidity for the housing market and to eliminate unnecessary regulations that slow the home building process and raise housing costs for home buyers and renters.”