Statement from NAHB Chairman Bill Owens on Passage of Senate Housing Bill

Bill Owens, chairman of the National Association of Home Builders (NAHB) and a home builder and remodeler from Worthington, Ohio, issued the following statement after the Senate passed the 21st Century ROAD to Housing Act:

“While the Senate-passed housing package includes several favorable provisions that would streamline environmental reviews, encourage land use and zoning reforms and improve our aging housing stock, we are very concerned about a provision that could significantly curtail housing supply. Specifically, the provision requiring institutional investors to sell built-for-rent single-family homes within seven years would severely reduce investment in rental housing and could slash single-family production by nearly 40,000 units per year.

“We urge the House to seek a conference and make changes to remove the government mandate to sell rental housing within seven years so that it will not lead to a decrease in new construction. NAHB will continue to work with House and Senate lawmakers to pass a final housing package that includes the best elements of both chambers’ bills and truly reflects Congress and President Trump’s stated purpose of increasing the nation’s housing supply.”  View the article on the NAHBNow Blog