National Multifamily Housing Council (NMHC) President Doug Bibby took part in a White House Council on Eliminating Regulatory Barriers to Affordable Housing on Friday, November 1.
The roundtable event, which brought together housing leaders from public and private sectors for a solutions-focused discussion, was chaired by HUD Secretary Dr. Ben Carson who has been appointed by President Trump to lead the administration’s housing affordability efforts.
“There is no doubt that the country is facing a housing affordability crisis,” said Bibby. “However, by embracing policies that truly get to the root of the problem and not those which will only serve as stopgap measures such as rent control, the multifamily industry and policymakers at all levels of government have an opportunity to deal effectively and comprehensively with the problems facing communities throughout the nation.”
Regulatory barriers are a primary driver of rising housing costs. A study conducted by NMHC and NAHB found that regulations account for 32.1 percent of development costs and in a quarter of cases, that number can reach as high as 42.6 percent.
NMHC is committed to leading the multifamily industry’s efforts to deal with housing affordability challenges. To that end, we continue to work with lawmakers to highlight policies that could have a real and significant impact. NMHC has also developed a number of resources with the goal of educating our members, advocates and policymakers about housing affordability, including The NMHC Housing Affordability Toolkit which explores the trends that have led to the problems currently facing the country and solutions lawmakers should consider.
Based in Washington, D.C., the National Multifamily Housing Council (NMHC) is the leadership of the trillion-dollar apartment industry. We bring together the prominent apartment owners, managers and developers who help create thriving communities by providing apartment homes for 39 million Americans. NMHC provides a forum for insight, advocacy and action that enables both members and the communities they help build to thrive. For more information, contact NMHC at 202/974-2300, e-mail the Council at email@example.com, or visit NMHC's web site at www.nmhc.org.