Page 8 - Builder Brief October 2024

2024 PRESIDENT
SPEAK UP FOR HOUSING: HOUSING AFFORDABILITY CRISIS AFFECTS OUR ECONOMY
We recently hosted our 3PAC Fundraising event, chaired by Ed Berlanga with Texas Homes and Co-Chaired by Eric Bernal with FBS Appliances. I want to thank Ed and Eric for their hard work and leadership. It was our most well-attended event, and several elected officials and candidates were in attendance. Thank you to all our sponsors, donors, and attendees. Your contributions truly make a difference.
As we look to the future, it has never been more critical for us to strengthen and grow our grassroots in advocacy. With the last day to register to vote on October 7th and the last day to vote in person on Friday, November 1st, election day is fast approaching. We must raise personal funds to contribute to and elect pro-housing and pro- business candidates. If you haven’t had an opportunity to contribute to our local San Antonio Builders Political Action Committee (SABPAC), we welcome and need your contributions.
Our industry and nation are currently navigating a landscape of political and economic uncertainties. The much-anticipated interest rate cut has finally materialized, with federal funds now hovering between 4.75% and 5%. The Fed's decision to raise interest rates in 2022 has impacted all GSABA members.
As an industry, we must continue to address the housing affordability crisis and provide more housing options. The National Association of Home Builders (NAHB) recently reported that 37.4% of new and existing homes were affordable to families earning the U.S. median income of $96,300. While high interest rates and low inventory contribute to the issue, low-income Americans have been severely impacted. Increasing the housing supply is one way to address shortages and provide more affordable options.
Your leadership team and staff communicate regularly with our elected officials in Washington, D.C., and the staff at NAHB. The local builders’ associations have been vital in changing restrictive and costly codes, and we have recently seen significant improvements in the energy codes. Workforce development has been at the top of NAHB’s priority list, and we continue to weigh in on excessive regulations and improper impact fees.
As we look to the 89th Legislative Session that will kick off in Austin in January 2025, several issues could affect our businesses. On September 26th, the House Ways and Means Committee met jointly with the Select Study Committee on Sustainable Property Tax Relief to hear invited and public testimony. On October 1st, the Senate Business and Commerce Committee will meet to hear invited and public
TIM PRUSKI
testimony on multiple topics, including the impact of population growth, the increasing demand for electricity, and the rising cost of property and casualty Insurance.
In this next session, the Texas Legislature will address the challenging topic of foreign buyers of Texas land and solutions to increase the infrastructure for water throughout the state. Their agenda also includes addressing housing affordability.
The 88th Legislative Session was one of the most productive sessions in the Texas Association of Builders (TAB) history. Positive changes to the Residential Construction Liability Act (RCLA) and the Statute of Repose were made. The last session also saw historic property tax relief and reform, including a $100,000 homestead exemption and reduced permitting and inspection delays in housing development.
On Tuesday, February 4th, our members will participate in TAB’s 2025 Rally Day, held during the Legislative Session every other year. We will charter buses to take our members to Austin and schedule face-to-face meetings with our elected officials in advance. I want to take this opportunity to encourage you to participate in this critical one-day event. Together, we can make a positive impact and effect change.
I hope to see you on Friday, November 1st, at 6:00 p.m. at the 2024 Parade of Homes Preview Party. This exclusive GSABA member-only event is held the night before the Parade of Homes opens to the public. We will have live music and dinner catered by Black Tie Affairs. You can purchase your ticket online at www.sabuilders.com.
Sincerely, Tim Pruski
8 OCTOBER 2024 | GREATER SAN ANTONIO BUILDERS ASSOCIATION