Podcast: NAHB Legal Expert Sheds Light on Next Steps for WOTUS
In the latest episode of NAHB’s Housing Developments podcast, co-hosts CEO Jim Tobin and SVP of Communications Paul Lopez welcome VP of Legal Advocacy Tom Ward to help explain the implications of the recent Supreme Court decision that rescinded key parts of the Biden Administration’s “waters of the U.S.” (WOTUS) rule.
Ward provides insight into the new test to determine whether a wetland can be regulated under the Clean Water Act, after the Supreme Court rejected the previous significant nexus test. Learn more about the impact of the decision.
Listen to Housing Developments wherever you get your podcasts or watch a video of the full episode below.
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Housing’s share of the economy was 15.7% in the third quarter of 2026, according to the latest estimates of GDP produced by the Bureau of Economic Analysis. This share is down from 15.8% in the second quarter and down from 16.0% a year ago. Residential construction, measured by residential fixed investment, fell for the sixth time over the past eight quarters.
The Federal Reserve’s preferred inflation gauge accelerated in September after holding at 3.0% for three consecutive months, complicating the Fed’s path to its 2% target. Consumer spending continued to be pushed up by elevated energy prices rather than income growth, driving the personal saving rate to the lowest level in nearly four years.
The U.S. economy grew at a faster pace in the third quarter of 2026, supported by stronger consumer spending, robust business investment, and increased government spending. However, residential investment remained a weak spot, highlighting the continued challenges facing the housing sector amid elevated borrowing costs.