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Skyrocketing Lumber Prices Add Nearly $36,000 to the Price of a New Home

Skyrocketing Lumber Prices Add Nearly $36,000 to the Price of a New Home

Soaring lumber prices that have tripled over the past 12 months has caused the price of an average new single-family home to increase by $35,872, according to new analysis by the NAHB Economics team. This lumber price hike has also added nearly $13,000 to the market value of an average new multifamily home, which translates into households paying $119 a month more to rent a new apartment.

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CFPB Delays Mandatory Compliance Date for General QM Rule

Filed in Advocacy, Housing Finance by on April 28, 2021 0 Comments
CFPB Delays Mandatory Compliance Date for General QM Rule

The Consumer Financial Protection Bureau (CFPB)  has formally delayed the mandatory compliance date of the General Qualified Mortgage (QM) final rule from July 1, 2021 to Oct. 1, 2022.

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Home Building Employment Across States and Congressional Districts

Filed in Economics, Trends by on April 27, 2021 0 Comments
Home Building Employment Across States and Congressional Districts

The most recent and comprehensive estimates of home building employment by state and congressional district reveals that California is the state with the most residential construction workers. Idaho’s 1st congressional district (Rep. Russ Fulcher – R), which comprises much of the western part of the state, leads the nation with 24,000 residents engaged in home building.

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Bringing Housing Home: Rising Lumber Prices Tops the Agenda

Bringing Housing Home: Rising Lumber Prices Tops the Agenda

Bringing Housing Home®, the premier grassroots event of the year, will take place during the week of May 3. Every NAHB member is encouraged to meet with U.S. representatives and senators in their home districts.

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FHFA Further Extends Some COVID-Related Loan Flexibilities

Filed in Advocacy, Housing Finance by on April 21, 2021 0 Comments
FHFA Further Extends Some COVID-Related Loan Flexibilities

The Federal Housing Finance Agency (FHFA) announced today that Fannie Mae and Freddie Mac will extend some temporary loan origination flexibilities until May 31, 2021, including alternative appraisals on purchase and rate-term refinance loans.

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Biden Administration Approves 22,000 Additional H-2B Visas

Filed in Advocacy, Workforce Development by on April 20, 2021 0 Comments
Biden Administration Approves 22,000 Additional H-2B Visas

The Department of Homeland Security (DHS) announced today that it will issue an additional 22,000 H-2B guest worker visas over the coming months. Of these additional visas, 6,000 will be reserved for workers from El Salvador, Honduras and Guatemala.

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Bipartisan Low-Income Housing Tax Credit Legislation Introduced in House and Senate

Bipartisan Low-Income Housing Tax Credit Legislation Introduced in House and Senate

The House and Senate today each introduced identical bipartisan bills supported by NAHB that will improve and strengthen the Low-Income Housing Tax Credit.

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NAHB Senior Officers Bring a Housing Agenda to Capitol Hill

NAHB Senior Officers Bring a Housing Agenda to Capitol Hill

NAHB Chairman Chuck Fowke and First Vice Chairman Jerry Konter recently conducted virtual and in-person meetings with congressional leaders to urge them to keep housing in the forefront of the national agenda.

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Minority Households Face Housing Affordability Challenges

Filed in Economics, Housing Affordability, Trends by on April 13, 2021 0 Comments
Minority Households Face Housing Affordability Challenges

New NAHB analysis on housing affordability based on race and ethnicity shows a wide disparity regarding the number of households that can afford a new median priced home.

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Biden Seeks to Boost HUD Budget by 15%

Filed in Advocacy by on April 9, 2021 1 Comment
Biden Seeks to Boost HUD Budget by 15%

President Biden announced his fiscal year 2022 budget today and it calls for a total of $68.7 billion for the Department of Housing and Urban Development, an increase of $9 billion, or 15%, over the 2021 enacted level.

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