Page 8 - July 2022 Builder Brief Issue

2022 PRESIDENT
MAKING A DIFFERENCE
We just returned from the National Association of Home Builders (NAHB) Legislative Conference in Washington, DC. This was my first visit to the ‘Hill,’ and it was an incredible experience for me, my wife Molly, daughter Emma, and son Aidan. We met with San Antonio’s Congressional delegation face-to-face to discuss the critical issues facing the homebuilding and remodeling industry.
I was impressed with how our Congressmen and their staff wanted to hear more about the issues facing each of us today, including the labor shortage, supply chain disruptions, and the Canadian lumber tariff. NAHB provided a great brochure with talking points on these issues. See Kristi’s article for more detailed information. Our national association does an excellent job staying connected with the Congressional delegation across the United States. We were blessed to have several GSABA members attend these meetings in the Congressional offices.
President Mike Sowry, Immediate Past President Ed Berlanga, GSABA Past President and BUILD PAC Trustee Michael Moore, TAB Past President and BUILD PAC Trustee Justin MacDonald, BUILD PAC Trustee Debra Guerrero, NAHB Director Kathy Howard, GSABA
EVP Kristi Sutterfield, GSABA VP Haley King, along with President Sowry’s wife Molly, and children Aiden and Emma and Cruz King had exceptional meetings in Washington, DC with our Congressional delegation at the NAHB Legislative Conference.
Immediate Past President Ed Berlanga, Past President Michael Moore, Justin MacDonald, Debra Guerrero, Kathy Howard, Kristi Sutterfield, Haley King and her son Cruz were all part of our meetings along with my family, andweallattendedthelegislativedayactivities. EachCongressmanhad an office in a different ‘House,’ so we visited the Rayburn Office Building, Cannon Office Building, and the Longworth Office Building and connected through underground tunnels. It was fascinating to see how it all works and watch the votes being made on the House floor.
During the Board of Directors meeting, we heard from Dr. Robert Dietz, NAHB’s Chief Economist, and he brought us up-to-date on what the Federal Reserve did at their June meeting.
They surpassed expectations and raised the federal fund’s target rate by 75 basis points, the most significant increase for the fund’s rate since 1994. Dr. Dietz voiced his concerns that the Fed might be overshooting
MIKE SOWRY
the tightening, and their actions could bring on a recession as it tries to fight inflation.
NAHB is forecasting a broader economic recession in 2023, which could mean rising unemployment and declines in the housing sector, in addition to our ongoing supply issues and labor shortages.
Bottom line, Dr. Dietz’s message was that the higher inflation we see in housing is due to the lack of for-sale and rental housing inventory and the cost increases for building materials, lots, and labor. We can only affect change with sound regulatory policy to increase the output on the supply side so we can slow the growth of costs that we are seeing today, which starts with educating our elected officials. These meetings allowed us to share the impact housing has on our national, state, and local economies.
We have invited our elected officials from Washington, DC, to join us for several of our upcoming GSABA events. Congressman Vincente Gonzalez will be at our August 18th Membership Mixer from 5 pm to 7 pm at GSABA; Congressman Cuellar will attend our 3 PAC Fundraising Event on October 13th, and we have invited Congressman Chip Roy to attend our GALA and Awards Banquet on December 1st. We hope you can join us at these upcoming events.
Thank you for being a member, and please call on me or any member of the Executive Team if we can help you in any way in the future.
Sincerely,
8 JULY 2022 | GREATER SAN ANTONIO BUILDERS ASSOCIATION