Housing leaders from across the world met to discuss housing affordability in a recent shop talk hosted by NAHB. Kevin Lee, CEO of the Canadian Home Builders Association, and Filiep Loosveldt, Build-Europe Managing Director, joined NAHB CEO Jerry Howard for a discussion about the challenges and solutions to housing affordability as documented in "Housing Affordability — A World Challenge," by the International Housing Association (IHA).
The IHA reports notes that a successful housing system in any country has people consistently advancing up the housing continuum — that is, from temporary emergency housing like homeless shelters through government-funded or subsidized housing and ultimately to homeownership at market rates. But a global housing affordability crisis is putting pressure on the top end of the housing continuum, homeownership.
"Housing affordability has been an increasing problem in the U.S. across the entire housing spectrum," said Howard in the shop talk. "The ability of the average American to pay their mortgage is becoming more and more of a challenge."
Noting similar issues affecting affordability across the United States, Canada and Europe, all agreed that home builders and others involved in residential construction need to focus on elected leadership that will reduce regulatory barriers — such as onerous zoning — and, in the short term, address supply chain and workforce development issues.
Watch a recording of the shop talk below.