Stakeholders from New Hampshire and Kansas discussed supply chain disruptions in the homebuilding industry as well as shortages in the availability of homes
Washington – RealEstateRama – U.S. Secretary of Commerce Gina M. Raimondo, U.S. Senator Jeanne Shaheen, and U.S. Senator Jerry Moran met with stakeholders involved in the home building supply chain, including the lumber industry, affordable housing advocates, and the home building industry in New Hampshire and Kansas. The group discussed supply chain disruptions, recent price volatility, the shortage in availability of homes, and potential areas for cooperation among stakeholders.
“The Biden Administration is firmly committed to tackling our housing challenges we face as we continue to build back better,” said Secretary Raimondo. “These have real implications for families in every community across the country, and we will continue to bring together stakeholders to identify potential solutions to address both short- and long-term issues. It is going to take collaboration among stakeholders to sort out bottlenecks and further strengthen the supply chain. We also need to directly grow our supply of housing in America, which is why the President has called for a historic investment to create and preserve more than 2 million affordable and sustainable homes.”
“The COVID-19 pandemic had an unprecedented impact on the home building supply chain. Challenges like supply bottlenecks and skyrocketing demand for construction materials resulted in surging prices and harmed the supply chain – affecting timber harvesters and haulers, sawmills, retail stores, home builders and ultimately Granite State families who need a safe and affordable place to live. We felt the impact in New Hampshire, and after today’s discussion, it’s clear the ripple effect was felt across the country,” said Senator Shaheen. “I want to thank Senator Moran, Secretary Raimondo and everyone who joined this afternoon to discuss how we can bolster the construction industry in New Hampshire and throughout the nation. I look forward to working with them in the weeks and months ahead to support affordable housing.”
“The volatility in the lumber market is pricing hundreds of thousands of potential home buyers out of achieving the American dream of home ownership,” said Senator Moran. “Supply chain shortages caused by the pandemic have driven up the price of building and buying homes and the threat of increasing countervailing duties on certain lumber imports from Canada threaten to exacerbate the situation. I appreciate the partnership of Senator Shaheen and Secretary Raimondo’s willingness to engage with industry leaders within the supply chain, including Kansas stakeholders, as we work to address the nationwide high cost of lumber and make the dream of home ownership attainable for all Americans.”
The discussion builds upon previous work by Raimondo as a member of the President’s Supply Chain Disruptions Task Force. In July, Director of the National Economic Council Brian Deese, U.S. Secretary of Housing and Urban Development, Chair of the Council of Economic Advisers Cecilia Rouse, and Raimondo met with a diverse group of stakeholders representing the entire home building supply chain. In response, stakeholders applauded the Biden Administration for prioritizing the issue and taking supply chain challenges seriously.
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