Page 50 - Region 5 NAR Update
P. 50
• And,inthelateFebruary,theWhiteHouseCouncilofEconomic Advisers’ report directly mentioned housing affordability as a barrier to our nation’s overall GDP growth.
• Specifically,itidentifiedvariousstateandlocal-levelregulations which have increased housing costs and deterred new construction.
• ThisechoesanNARresearchreportfromearlierthisyearwhich found job growth threatened by the housing affordability crisis.
• Someoftheseproblemsareindeedtheresultofmisguidedlocal policy that has inflated prices and prevented building.
• ButNARalsorecognizestheneedtoworkwiththefederal government to develop more holistic solutions that will address the crisis on a national level and prevent it from permeating deeper into our nation’s economy.
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