Residential Real Estate News
U.S. Realtors, Homebuilders Embrace President Biden's New Infrastructure Plan
The National Association of Home Builders' chairman Chuck Fowke issued the following statement on President Biden's new infrastructure proposal:
"NAHB commends President Biden for proposing a much-needed transportation and infrastructure plan for our nation that notes the important role that housing contributes to building strong communities. With the nation facing a housing affordability crisis, the plan recognizes the urgent need to build more affordable housing and retrofit existing homes to increase energy efficiency. NAHB looks forward to working with the White House and bipartisan leaders in Congress to advance an infrastructure package that addresses the nation's housing affordability challenges and pays for it in a way that will not jeopardize future economic growth."
The National Association of Realtors President Charlie Oppler also thanked the Biden administration for emphasizing housing availability and broadband internet access in its newly unveiled infrastructure investment proposal.
"NAR thanks President Biden and his administration for recognizing that housing represents a critical piece of our nation's overall infrastructure," said Oppler. "While a lack of inventory and rising prices continue to limit opportunities for homeownership - especially for younger Americans and minority populations - policies that support nationwide housing affordability are now more important than ever."
Included in President Biden's proposal are plans to "Build and rehabilitate more than 500,000 homes for low- and middle-income homebuyers," which the White House highlighted as "a pathway for more families to buy a home and start building wealth" in its official overview.
"We look forward to working with Congress and the administration to ensure these proposals are funded responsibly while continuing to promote additional housing inventory," Oppler continued. "In addition, we are encouraged by reports of rising support to end the SALT marriage penalty through this bill, and we urge the administration to work with lawmakers to find a solution."
The plan unveiled Wednesday also includes a historic investment in broadband. NAR has long supported a comprehensive national policy to stimulate the deployment of broadband in underserved areas, increase data speeds and lower broadband prices.
"Broadband access is no longer a luxury, it is a critical utility," Oppler said. "That was true before the pandemic, and even more so now."
