Following MHProNews post from this morning regarding the MHI’s Mr. F. R. Jayar Daily’s testimony before the House Subcommittee on Housing and Insurance regarding the impact of government policies on housing cost, realestaterama reports on the other witnesses who spoke, giving one scant paragraph from Mr. Daily’s statement about manufactured housing: “While the HUD Code has brought standardization to the industry, in order for manufactured housing to achieve its full potential in addressing the affordable housing needs of the nation, the administration of the HUD Code should be improved to better account for cost impacts and industry practices.”
Chairman Blaine Luetkemeyer (R-MO) led off with, “Government has inserted itself into the business of housing by mandating affordable housing and community reinvestment while simultaneously stifling creation of affordable housing and community reinvestment. It’s time to promote the development and availability of housing for low- to mid-income Americans, not restrict it.”
Other remarks came from Clyde Holland, representing multifamily and apartment associations, who said zoning can make it very difficult to build multifamily units, especially if the zoning has to be changed, which ups the cost considerably.
Granger McDonald, representing the National Association of Home Builders (NAHB), said housing plays a vital role in the economy, but 25 percent of the cost of an average single-family home is due to regulations from all levels of government from the development to final construction.
Mechele Dickerson, from the University of Texas at Austin School of Law, said while homeownership rates have been falling, rents have been rising since the Recession, and renters are now the majority in nine of the largest U. S. 11 metropolitan areas. She said, “While there is a robust market for high-end, luxury apartments, affordable rental units are not being built at a rate that is keeping pace with the heightened demand for those units. It is especially difficult for middle-income families to find affordable rental units in large U. S. cities.” ##
(Image credit: rethinkinghousing.ca/vansun–affordable housing)
Article submitted by Matthew J. Silver to Daily Business News-MHProNews.