NAHB Launches Podcast Hosted by CEO Jerry Howard and Chief Lobbyist Jim Tobin
This post has been updated.
NAHB today launched Housing Developments, a new podcast co-hosted by CEO Jerry Howard and Chief Lobbyist Jim Tobin, who will provide expert analysis on the latest news in the housing industry and inside NAHB. The show will also feature special guests who will share inside knowledge and unique perspectives on key issues impacting the industry.
In the the first episode, Howard and Tobin recap the International Builders' Show – including speeches given by HUD Secretary Dr. Ben Carson and congressional leaders – and discuss the state of Washington politics leading up to the 2020 election. Listen to the podcast here or at nahb.org/podcast.
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Facing persistent inflationary pressures, the Federal Reserve unanimously decided at its September policy meeting to raise the federal funds rate to a target range of 3.75% to 4%.
Overall housing starts decreased 2.6% in August to a seasonally adjusted annual rate of 1.28 million units, according to a report from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.
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Single-family housing starts rebounded in August, but production remains down 4.7% year to date as builders contend with rising construction costs, lot and labor shortages, and economic uncertainty.
The Federal Reserve raised the federal funds rate by 25 basis points at the conclusion of its September policy meeting, bringing the target range to 3.75% to 4%.
Higher mortgage rates, worsening labor shortages and rising material costs are weighing on builder sentiment.