NAHB Urges Congress to Reopen Government

With the government shutdown entering its fifth week, NAHB continues to call on Congress to move quickly to reopen the federal government.

NAHB joined with a broad cross-section of business associations to issue a statement on Oct. 30 urging “Congress to swiftly pass a clean continuing resolution to reopen the federal government. Immediately reopening the government would avert further economic disruption and give Congress and the administration time to negotiate a longer-term funding package and address other pressing issues,” the joint statement said.

NAHB has been warning lawmakers that a long-term shutdown lasting several weeks could have significant impacts on mortgage accessibility and reduce housing demand. Of particular concern is the lapse in funding for the National Flood Insurance Program (NFIP), which is delaying all new home sales and insurance renewals for property owners who have federally backed mortgage for homes or properties that lie in a Special Flood Hazard Area.

Past disruptions of the NFIP have caused immediate and widespread negative impacts on property sales, home values and consumer confidence. Congress needs to pass a long-term reauthorization of the NFIP to provide certainty, predictability and peace of mind to policyholders so that we are not stuck in this cycle of being tied to the budget process.

At the request of the White House, NAHB Chairman Buddy Hughes recently recorded a video to urge Congress to end the government shutdown. His message highlights how the government closure is affecting housing.

View the NAHB chairman’s message to Congress below.

NAHB remains engaged with lawmakers and continues to monitor the situation closely.