US EditionWhite House Report Says 10 Million-House Shortage Hinders Growth
The report says regulatory cuts could spur as many as 13.2 million homes and support 2 million jobs, White House economists said.
- On Monday, the White House Council of Economic Advisers released a report estimating the United States faces a 10 million-home shortage, arguing regulatory cuts could spur construction of 13.2 million homes.
- Dubbed "the bureaucrat tax," regulations add more than $100,000 to building costs, including zoning approval fees and changing building codes over the past decade.
- The report cites a 2021 National Association of Home Builders analysis claiming Biden-era green energy standards add up to $31,000 to new home prices, with homebuyers potentially waiting 90 years to recover costs.
- While President Donald Trump has argued for keeping home prices high to protect existing owners, a federal judge in Texas agreed with Republicans that federally backed housing standards are unlawful in March.
- Meanwhile, the Iran war has driven 30-year mortgage rates to 6.37%, complicating affordability efforts even as the White House maintains recent executive orders demonstrate focus on housing.
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31 Articles
The US is short 10 million houses. A new White House report lays out a blueprint to fix that. - The Boston Globe
Meanwhile, the Iran war has driven up the cost of buying homes, with average rates for 30-year mortgages jumping from just under 6 percent to 6.37 percent.
White House Sets Out Plan to Fix Housing Crunch
White House economists estimate the United States has a shortage of 10 million houses, according to a new report out Monday—and they say regulatory cuts could lead to more construction to stabilize prices, increase home ownership, and fuel faster economic growth. The analysis, part of the Economic Report of...
The US is short 10 million houses. A new White House report lays out a blueprint to fix that | Chattanooga Times Free Press
White House economists estimate the United States has a shortage of 10 million houses, according to a new report out Monday — and say regulatory cuts could lead to more construction to stabilize prices, increase home ownership and fuel faster economic growth.
New WH Report Outlines Fix to US Housing Shortage
According to a new report out Monday, White House economists estimate the United States has a shortage of 10 million houses and say regulatory cuts could lead to more construction to stabilize prices, increase homeownership, and fuel faster economic growth.
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