NAHB sends policy proposal to the White House

The National Association of Home Builders (NAHB) has sent the White House a list of policy recommendations that are designed to help residential construction overcome the COVID-19 economic disruption.

The policies are also intended to help lead the economy out of the current recession.

The NAHB is part of the Great American Economic Revival Groups, recently appointed by President Donald Trump. The groups have been brought together by the Trump administration to provide direction regarding the reopening of the economy following the COVID-19 shutdown.

Included in the recommendations are the short-term needs of the housing industry and increasing housing supply.

Short-term proposals would:

• Improve access to the Small Business Administration (SBA) Paycheck Protection Program for single-family and multifamily builders and developers;


• Advance the maximum $10,000 amount to all applicants of the SBA Economic Injury Disaster Loan (EIDL) program;


• Ensure the effectiveness of the Federal Reserve’s “Main Street Lending Program” for single-family and multifamily developers;


• Provide direct rental assistance and other solutions to multifamily owners to address lost rental payments; and


• Temporarily increase mortgage limits in high-cost areas for FHA, Fannie Mae and Freddie Mac.

Policy recommendations to provide critical support to housing production include:

• Creating a secondary market for acquisition, development and construction loans;


• Shifting homeownership tax incentives from a deduction to a credit;


• Establishing a permanent minimum 4% credit floor for the Low-Income Housing Tax Credit;


• Revising Federal Housing Administration condominium regulations to allow approvals for proposed or under construction projects; and


• Increasing funding for workforce development programs.