National Lieutenant Governors Association Recognizes Importance of Housing in Economic Recovery
The National Lieutenant Governors Association issued a resolution recognizing that policymakers can help foster a housing-led economic recovery during its 2020 virtual annual meeting on July 29-30.
The resolution was co-sponsored by Lieutenant Govs. Mike Cooney (D-Mont.) and Matt Pinnell (R-Okla.).
"The construction of housing, whether rental properties or new homes, is vital to economic stability as our nation looks to rebuild from COVID-19," said Pinell. "The housing industry is a job creator, GDP grower, and overall vital part of our economic portfolio."
“Montanans and families across the country need an affordable place to call home now more than ever,” said Cooney. “Home builders are critical to responding to the ongoing affordable housing crisis that’s been made worse by the COVID-19 pandemic. I join lieutenant governors across the country in working toward policies that create more jobs and more affordable, quality homes, and recognize that building more affordable housing builds stronger communities.”
The resolution stated that the nation faces a shortfall of more than 1 million homes to affordably house residents and that home builders across the nation have moved swiftly to adopt new safety and health standard in the wake of the COVID-19 pandemic so they can remain safely on the job and provide much-needed housing.
Per the resolution:
"The National Lieutenant Governors Association affirms that home construction must continue to be an integral aspect of the nation’s economic recovery.
"Be it further resolved that the National Lieutenant Governors Association recommends that as the nation continues to recover from the coronavirus-induced shutdown, state and local elected officials should support the housing sector by acting in a swift and responsible manner to approve permit applications, inspections, and closings to prevent unnecessary bottlenecks in the home building process.
"Be it further resolved that the National Lieutenant Governors Association believes that it is imperative local building departments receive proper funding so that builders and home buyers do not experience delays and increased fees that could worsen the current housing shortage and exacerbate the housing affordability crisis."
The full resolution can be viewed here.
Latest from NAHBNow
Jul 11, 2025
Maine HBA Brings Real-World Training to State’s Future BuildersRecognizing an aging workforce and a critical need for new talent, the Association has partnered with the Sanford Regional Technical Center (SRTC) to prepare the next generation of skilled tradespeople. Through HBA-led instruction, high-school students are building homes from the ground up and gaining real-world experience.
Jul 10, 2025
What to Know About Expiring Energy Tax CreditsPresident Trump recently signed the One Big Beautiful Bill Act (OBBBA) into law, which significantly accelerates the termination date for federal energy tax incentives. Builders and remodelers using the credits should be aware of the new expiration dates and where necessary, consult with their tax professional for additional guidance.
Latest Economic News
Jul 11, 2025
Shrinking Lots: Spec Building New NormThe share of smaller lots remained record high in 2024, with two out of three new single-family detached homes sold occupying lots under 9,000 square feet (1/5 of an acre or less).
Jul 10, 2025
Remodeling Market Sentiment Dips in Second QuarterIn the second quarter of 2025, the NAHB/Westlake Royal Remodeling Market Index (RMI) posted a reading of 59, down four points compared to the previous quarter.
Jul 09, 2025
Mortgage Applications Picked Up in June as Rates EasedMortgage application activity picked up in June, supported by a slight decline in interest rates. The Mortgage Bankers Association’s (MBA) Market Composite Index, which tracks mortgage application volume, rose 5.4% from May on a seasonally adjusted basis. Compared to June 2024, total applications were up 21.1%.