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NAHB economist asks Congress for more favorable regulatory climate to keep industry healthy
Suggestions from the group include protection of the mortgage interest deduction and the Low Income Housing Tax Credit.
National Association of Home Builders economist Robert Dietz told a Congressional committee recently that regulations could be hampering the home building industry. “Regulations imposed by the government at all levels account for 25 percent of the final price of a new single-family home,” he said. Dietz urged lawmakers to protect the mortgage interest deduction and Low Income Housing Tax Credit, and to enact a tax extenders bill that would retroactively extend expired tax rules such as the minimum 9 percent credit rate for the Low Income Housing Tax Credit and residential energy efficient tax credits for new construction and for retrofitting existing homes.