"NAA-NMHC research shows we need to build 4.3 million more apartments by 2035 to meet demand. To date, the Trump Administration has implemented a number of pro-housing, common-sense policies from easing burdensome regulations to eliminating barriers that slow development which are important steps in the right direction. Yet now more than ever is the time for decisive and transformational action."
"Mortgage rates matter, but they are only one piece of the puzzle. The deeper problem is that we simply don't have enough homes especially for owner-occupancy. Until we address the chronic shortage of housing supply, lower rates alone won't put homeownership within reach for families."
Housing industry leaders emphasize that while mortgage rate decreases are important, they alone cannot solve the affordability crisis. The National Apartment Association and National Multifamily Housing Council report that 4.3 million additional apartments are needed by 2035 to meet demand. Current mortgage rates hover around 6%, with limited prospects for significant further reductions without inflation control. Industry groups call for comprehensive, transformational action addressing the fundamental shortage of housing supply. The Trump Administration has implemented regulatory relief and development barrier removal, but experts stress that a committed, clear national plan is essential to address affordable housing shortages for both renters and homeowners.
Read at www.housingwire.com
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