President Signs Executive Order Addressing Housing Affordability
Greg Ugalde, chairman of the National Association of Home Builders and a homebuilder and developer from Torrington, Connecticut, attended the June 25 signing ceremony at the White House and issued the following statement after President Trump signed his executive order on housing affordability.
“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 percent of the price of building a single-family home and more than 30 percent of the cost of a typical multi-family 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.
“NAHB will continue to work with the White House and Secretary Carson to find innovative solutions to increase the production of sorely needed quality, affordable housing.”