Washington, D.C. – (RealEstateRama) — Randy Noel, chairman of the National Association of Home Builders (NAHB) and a custom home builder from LaPlace, La., issued the following statement on the American Housing and Economic Mobility Act, legislation introduced today by Sen. Elizabeth Warren (D-Mass.):
“NAHB commends Sen. Warren for highlighting the housing affordability crisis facing the nation and introducing legislation today that seeks to bring down costs for renters and home buyers alike. A key component of the American Housing and Economic Mobility Act would eliminate unnecessary local land use rules that drive up construction costs and harm housing affordability.
“However, funding many of the provisions within this broad-based bill by raising the estate tax could hurt many small, family-run businesses by imperiling the ability of the owners to pass on their business to future generations. NAHB looks forward to working with Sen. Warren to address this critical issue and to find practical solutions, such as reforming local zoning laws, which will promote affordable housing in the U.S.”