Builders: 25% of new-home costs stem from regulations
Builders: 25% of new-home costs stem from regulations WASHINGTON – March 28, 2016 – Citing an acute shortage of affordable rental housing and severe regulatory burdens that drive up the cost of single- and multifamily housing for homebuilders and consumers alike, the National Association of Home Builders (NAHB) called on Congress to pursue regulatory reforms that would improve affordability and promote new development. Testifying before the House Financial Services Subcommittee on Housing and Insurance, Granger MacDonald, a homebuilder from Kerrville, Texas, and first vice chairman of NAHB, told lawmakers that home building is one of the U.S.'s most heavily regulated industries. "Government regulations account for 25 percent of the cost of a new single-family home," said MacDonald. "The regulatory burden includes costs associated with permitting, land development, construction codes and other financial hindrances imposed on the construction process. Oft