Greg Ugalde, first vice chairman of the National Association of Home Builders (NAHB) and a builder and developer from Torrington, Conn., attended tonight’s State of the Union address and issued the following statement regarding President Trump’s remarks:
“NAHB commends President Trump for highlighting the need for large-scale nationwide investment in infrastructure that is vital to build strong communities and a thriving housing market. Homeownership and housing are essential to a strong and prosperous nation. Yet, new research by Freddie Mac shows that America’s home builders are constructing 370,000 fewer units annually than needed to satisfy demand.
“The biggest impediment to this shortfall is due to the growing housing affordability crisis. The administration and Congress must make this issue a top national priority. Policymakers can start by taking the following steps: Eliminate unnecessary regulations that raise housing costs; enact housing finance reform that enables creditworthy borrowers to obtain home loans; and promote job training programs in home building to help address the severe labor shortage that is putting upward pressure on home prices.”