Homebuilders urge Biden to help cut costs for market in ‘extreme duress’
The National Association of Home Builders has asked the White House to take action to address the supply-chain disruptions that are pushing up the costs of materials and labor. In a letter sent Wednesday, April 27, 2022, the group said the volatility in lumber prices alone has raised the cost of a typical single-family home by more than $18,600 since last August. Among its proposals are the suspension of tariffs on softwood imports from Canada, and the reduction of regulations that account for nearly 25% of the price of building a single-family home and more than 30% of the cost of a typical multifamily development. The group says taking these actions will help provide more homeownership and rental housing opportunities for all Americans. Some 78 homebuilders from across Mississippi joined the letter.