NAHB Now's Latest Posts
Fannie Mae and Freddie Mac Can Continue to Retain Earnings
The Federal Housing Finance Agency (FHFA) and the U.S. Department of the Treasury yesterday announced that Fannie Mae and Freddie Mac (the Enterprises) can continue to retain earnings until they satisfy the requirements of the 2020 Enterprise capital rule. Under the 2020 final capital rule, Fannie Mae and Freddie Mac’s combined risk-based capital requirements would have been $283 billion as of June 30, 2020.
Biden Proposes $1.9 Trillion Economic Rescue Package
President-elect Joe Biden tonight proposed a $1.9 trillion economic rescue package in response to the devastating health and economic impacts of the COVID-19 pandemic.
Residential Construction: Net Job Gains Offset Losses from the Pandemic
From May through December, the number of new residential construction jobs that were created offset the total amount of jobs that were lost earlier in 2020 due to the COVID-19 pandemic.
PPP Rules Updated as New Loans Begin on Jan. 11
The Small Business Administration and U.S. Treasury Department have released new regulations on the expanded Paycheck Protection Program (PPP) as amended through the $900 billion coronavirus relief package that was enacted into law at the end of December.
Department of Labor Releases Final Independent Contractor Rule
The U.S. Department of Labor (DOL) has announced a final rule clarifying the definition of employee under the Fair Labor Standards Act (FLSA) as it relates to independent contractors. While the rule will make it easier for businesses to classify workers as independent contractors, it is still unclear if it will ultimately be implemented by the incoming Biden administration.
Spending Bill Lays Out Funding Levels for Key HUD and USDA Programs
The massive spending bill approved by Congress last night will fund the federal government through Sept. 30, 2021, and includes spending targets for key HUD and USDA programs.
Key Housing Provisions in $900 Billion Relief Bill Passed by Congress
A $900 billion economic relief package approved by the House and Senate tonight includes key provisions that NAHB championed. The bill provides small businesses relief from burdensome loan forgiveness requirements, helps struggling renters and owners with dedicated rental assistance, strengthens the Low-Income Housing Tax Credit and assists HBAs that have largely been excluded from previous relief measures.
A Win on Beneficial Ownership Reporting Requirements
In a win for NAHB, House and Senate negotiators have agreed on “beneficial ownership” legislation that addresses key builder concerns after NAHB negotiated directly with key congressional leaders.
Biden Selects Rep. Fudge as HUD Secretary
President-elect Joe Biden has selected Rep. Marcia Fudge (D-Ohio) as the next secretary of the Department of Housing and Urban Development.
Where Are the Largest Homes Built?
The pre-COVID-19 trend of declining home size has been universal across U.S. regions, according to NAHB’s analysis of the 2019 Survey of Construction data. Nevertheless, regional differences in new home sizes exist, with some of the largest single-family spec homes built in the Middle Atlantic and some of the largest custom homes built by contractors in the Mountain division.
