NLBMDA responds to White House affordable housing action
New White House Council looks to cut costly regulations and increase production of affordable homes.
With a lack of affordable housing holding back many Americans from purchasing a home, President Donald Trump has taken action.
On June 25, the President signed an executive order that establishes a White House Council on Eliminating Regulatory Barriers to Affordable Housing.
“For many Americans, access to affordable housing is becoming far too difficult. Rising housing costs are forcing families to dedicate larger shares of their monthly incomes to housing,” President Trump wrote in the executive order.
“Driving the rise in housing costs is a lack of housing supply to meet demand. Federal, State, local, and tribal governments impose a multitude of regulatory barriers — laws, regulations, and administrative practices — that hinder the development of housing,” Trump said. “These regulatory barriers increase the costs associated with development, and, as a result, drive down the supply of affordable housing. They are the leading factor in the growth of housing prices across metropolitan areas in the United States. Many of the markets with the most severe shortages in affordable housing contend with the most restrictive State and local regulatory barriers to development.”
The National Association of Lumber and Building Material Dealers Association (NLBMDA) issued the following statement regarding the council’s establishment:
“NLBMDA is encouraged that the Trump Administration will be examining ways to make housing development more affordable,” said Jonathan Paine, NLBMDA President & CEO. “Regulatory barriers at all levels of government, while well-intentioned in many cases, can impede the development of affordable housing. NLBMDA stands ready to work with the Administration to make housing more affordable for all Americans. Incentives such as the Low-Income Housing Tax Credit have been an effective means to expand the supply of affordable housing and we hope the Administration will complement these incentives with smart regulatory reforms.”
The Council will be chaired by the Department of Housing and Urban Development (HUD) Secretary Ben Carson and will consist of members from across eight federal agencies including HUD, Treasury, Labor, Interior, Agriculture, Transportation, Energy and the Environmental Protection Agency.
The Council has been tasked with accomplishing the following directives by January 2021:
- Engage state, local, and tribal leaders to identify and remove obstacles that hinder the development of new affordable housing.
- Examine the impact federal, state, and local regulations are having on the costs of developing affordable housing and the economy.
- Take action to reduce federal regulatory barriers to affordable housing development.
- Support state and local efforts to reduce regulatory barriers.
- Recommend solutions to reduce statutory, regulatory, and administrative burdens at every level of government that hamper affordable housing development.
- Streamline interagency processes and deliver faster results.
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