PHM - U.S. homebuilders urge White House to address housing affordability woes

The National Association of Home Builders on Wednesday has urged President Biden to help reduce material and labor costs as housing affordability falls to its lowest in more than years, according to a letter.  "The housing market is reaching an inflection point that threatens to derail the current housing and economic expansion," the NAHB highlighted.  As supply chain disruptions continue to take hold, lumber price volatility, for example, has raised the cost of a typical single-family home by more than $18.6K since last August, exacerbated by tariffs on Canadian lumber shipments into the U.S., the letter said. In turn, the NAHB wants Biden to suspend those tariffs and to "move quickly to enter into negotiations with Canada to pursue a new, long-term softwood lumber agreement."  “The industry believes these challenges will grow worse if meaningful steps are not taken to allow builders to increase the supply of affordable single-family and

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U.S. homebuilders urge White House to address housing affordability woes