Podcast: A Tale of Two (Very Hot) Cities
In the latest episode of NAHB’s Housing Developments podcast, co-hosts CEO Jim Tobin and SVP Paul Lopez discuss several topics that are divided into the best of times and the worst of times: the economy, Job Corps funding and regulations. Tune in to hear about how new home sales are up in the face of historically-high Fed rates, Congress’ division over appropriations and NAHB’s stance on the Biden administration’s “junk fees” characterization in home building.
The co-hosts also provide information on resources for keeping crews safe while on the job site during this heat wave.
Listen to Housing Developments through your favorite podcast app or watch this episode below.
Latest from NAHBNow
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.
Latest Economic News
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.