NAHB Podcast: Election 2024 Predictions, and Housing Data Weighs on Builders

Advocacy
Published

On the latest episode of NAHB’s podcast, Housing Developments, CEO Jim Tobin and COO Paul Lopez discuss the latest economic news and political events.

Earlier this week, President Biden proposed a two-year provision that would require housing providers with 50+ existing units to choose to either cap annual rent increases at 5% or lose accelerated depreciation.

“Rent control is as lazy a policy as you're going to find. If you truly care about lowering costs for renters, put more supply in the marketplace,” Tobin stated. “Rent control doesn't work. I don't care what side of the aisle you're on.”

“I guarantee you that the stakeholder community in town is bound together on this, and we're going to make sure that Congress — this never sees the light of day. This is just electioneering politics,” he added.

NAHB Chairman Carl Harris and First Vice Chairman Buddy Hughes attended the Republican National Convention this week, which included the announcement of former President Trump’s vice presidential candidate, Sen. J.D. Vance from Ohio. Tobin and Lopez also discuss what could happen ahead of the Democratic National Convention next month — which Harris and Hughes will also attend — in terms of President Biden’s candidacy and expectations for this election cycle.

Tobin and Lopez also touch on the last economic data in the NAHB/Wells Fargo Housing Market Index (HMI), which continues to be low as interest rates remain high. But in terms of forecasts, builders are starting to become more optimistic.

“I think the second half of this year — certainly moving into 2025 — there’s a lot of reasons to be optimistic,” Tobin stated. “But we were optimistic six months ago, right? So again, cautious optimism, but feeling better after these last couple months.”

Listen to the full episode below, and subscribe to Housing Development through your favorite podcast provider or watch all the episodes on YouTube.

Subscribe to NAHBNow

Log in or create account to subscribe to notifications of new posts.

Log in to subscribe

Latest from NAHBNow

Awards

Oct 03, 2025

NAHB Awards Deadline Extended to Oct. 20

Interested applicants for NAHB’s prestigious award programs now have additional time to submit top projects and individuals for consideration. Don't miss your chance - apply by Monday, Oct. 20.

Sponsored Content

Oct 03, 2025

Fast Money, Fewer Headaches

Every week lost to underwriting is a week you’re not building, selling, or scaling. Delays push projects out of prime seasons, tighten cash flow, and leave crews idle. And when banks already move at their own pace, builders who aren’t prepared can get stuck at the back of the line.

View all

Latest Economic News

Economics

Oct 03, 2025

Supply-Side Cost Pressures Drove Housing as Inflation Leader in 2024

Though the rate of inflation peaked in June 2022, consumer prices continued to increase throughout 2023 and 2024 as inflation drove further price growth, according to 2024 CPI review from the Bureau of Labor Statistics.

Economics

Oct 02, 2025

Square Foot Prices Moderate in 2024

Median square foot prices for new single-family detached (SFD) homes started in 2024 grew modestly, according to NAHB’s analysis of the latest Survey of Construction (SOC) data. For custom, or contractor-built, homes, the median price was $166 per square foot of floor space, up slightly from $162 in 2023.

Economics

Oct 02, 2025

17% of NAHB Builders Built Age-Restricted Housing in 2024

Only 17% of NAHB builder members build age-restricted housing for people age 55 or older, according to 2024 Member Census. This is up two percentage points from the previous year. However, this share has remained within a narrow band (15%-17%) since the question was added to the member census in 2009.