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Housing Missing from White House Economic Agenda

Washington, D.C. – February 9, 2016 – (RealEstateRama) — Ed Brady, chairman of the National Association of Home Builders (NAHB) and a home builder and developer from Bloomington, Ill., today issued the following statement regarding President Obama’s Feb. 5 comments on the January jobs report:

“President Obama hailed the nationwide unemployment rate dropping below 5 percent while at the same conceding ‘that we’ve still got more work to do.’ However, the president missed an opportunity to address how a vibrant housing market is necessary in order to maintain robust job and economic growth.

“Twenty-five percent of the cost of a single-family home is attributable to regulation. The administration should aggressively engage in regulatory reform that will reduce costs for businesses and consumers and take steps to ease tight credit conditions for qualified home buyers.

“These actions to boost housing and homeownership will bolster household wealth, generate jobs, and place the economy on a sustained upward path.

“For most Americans, their biggest asset is their home. It would be wise for the presidential candidates in both parties to address these important housing issues on the campaign trail.”

Stephanie Pagan