Podcast: Member Activation on Important Building Code Legislation
In the latest episode of NAHB’s podcast, Housing Developments, CEO Jim Tobin and SVP Paul Lopez discuss an important bipartisan bill up for a vote in Congress that would give home builders and local governments flexibility in rebuilding after natural disasters. NAHB is encouraging members to contact their representatives and urge them to vote for the bill.
Jim and Paul also discuss the broader economy and the increasing likelihood of the Federal Reserve getting its “soft landing.” And on the heels of the winter Board of Directors meeting, the two talk about some recent changes at NAHB under a new strategic plan and organizational restructuring.
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NAHB worked with Rep. Nanette Barragán (D-Calif.) on legislation aimed at lowering housing costs by establishing a tariff exemption process for building materials. The Housing Tariff Exclusion Act (H.R. 10416) would automatically exempt many home building materials from President Trump’s current and future tariffs and give importers a process to seek exemptions for additional materials.
Latest Economic News
Single-family housing starts rebounded in August, but production remains down 4.7% year to date as builders contend with rising construction costs, lot and labor shortages, and economic uncertainty.
The Federal Reserve raised the federal funds rate by 25 basis points at the conclusion of its September policy meeting, bringing the target range to 3.75% to 4%.
Higher mortgage rates, worsening labor shortages and rising material costs are weighing on builder sentiment.