The National Association of Home Builders (NAHB) offered its response to President Barack Obama’s State of the Union Address, praising his remarks regarding foreclosures and efforts to help homeowners stay in their homes. The President’s refinancing plan will continue to help homeowners stay in their homes, the NAHB said, as millions continue to struggle unemployment and low-paying jobs.
“We look forward to working with the White House and Congress to tackle this issue and continue to make progress on foreclosures that are hampering the housing market,” said NAHB Chairman Bob Nielsen, who is himself a home builder from Reno, Nevada.
The NAHB also agreed with President Obama’s insistence that now is a better time than ever to build. Simply by building 100 single-family homes, companies can create 300 full-time jobs and as much as $8.9 million in tax revenue at the local, state, and federal level, all of which helps schools, law enforcement, and other government-funded services.
In order to accomplish this, Nielsen explained, policymakers need to reopen the lines of credit to builders. While building will help boost economies in metropolitan areas that are already showing signs of recovery, they need access to credit to even begin many of those projects.
According to the NAHB statement, 70 percent of voters believe that creating tax incentives to help stimulate home ownership is a good idea, and 60 percent believe that resolving the current housing crisis should be a top priority for the federal government. Voters will be looking to candidates in the upcoming elections to determine which ones are best prepared to come up with a plan to resolve these housing issues and get the market back on track.