Podcast: Election 2024 – The Day After
On the latest episode of NAHB’s podcast, Housing Developments, CEO Jim Tobin and COO Paul Lopez dive into the 2024 election results.
At the time of the recording, the presidential election has been decided in favor of Donald Trump, the Republicans have control of the Senate, and control of the House of Representatives is still to be determined.
So what does this mean for housing?
“Trump’s [housing] plans were not as fully fleshed out as Harris’s plans, so for me, that means there’s more of a blank slate — so opportunity,” Tobin stated. “This is where the hard work begins for NAHB and for the staff team here. I’ve been talking about seizing on the political moment that housing has into now a policy moment.”
NAHB’s advocacy team will delve deeper into the election results and what to expect during the “What’s Next in Housing: 2024 Post-Election Analysis” webinar, taking place Nov. 13 at 12 p.m. ET.
NAHB’s economic team will also be following the impact of the election on Eye on Housing.
Another important initiative that NAHB is championing is the Home Building Industry Disaster Relief Fund. NAHB has launched a matching campaign up to $500,000, which will last through March 1, 2025. Visit nahb.org/give to learn more and donate.
Listen to the full episode of the podcast below, and subscribe to Housing Development through your favorite podcast provider or watch all the episodes on YouTube.
Latest from NAHBNow
The U.S. Department of the Treasury and the Internal Revenue Service have announced new Opportunity Zone designations for more than 6,500 communities nationwide, effective Jan. 1, 2027.
Member-to-member recruitment is essential for growing NAHB’s membership. Here are the perks members are being rewarded with for their efforts.
Latest Economic News
The U.S. labor market rebounded in October, with nonfarm payroll employment increasing by 165,000 jobs and the unemployment rate declining to 4.1%. However, the improvement in overall employment contrasts with continued weakness in residential construction, where employment fell by 16,400 jobs, the largest monthly decline since March 2021.
New multifamily housing confidence weakened year-over-year in the third quarter, according to the Multifamily Market Survey (MMS) by the National Association of Home Builders (NAHB). The MMS produces two separate indices. The Multifamily Production Index (MPI) had a reading of 41, down five points year-over-year, while the Multifamily Occupancy Index (MOI) had a reading of 69, also down five points year-over-year.
Mortgage application activity declined in October as the 30-year fixed mortgage rate rose sharply again. The Mortgage Bankers Association’s (MBA) Market Composite Index, a measure of total mortgage application volume, fell 14.1% month-over-month in October on a seasonally adjusted basis. Compared to a year ago, total mortgage applications were 39.8% lower.