US housing crisis – Homebuilders call out government

NAHB chairman Jerry Konter lamented that these issues have significantly decreased housing affordability, particularly for entry-level buyers and renters. According to NAHB, historically high lumber prices seen over recent months have raised the cost of a typical single-family home by more than $18,600 and added roughly $10,000 to the cost of a typical apartment since August 2021.

“Our members in every state across the land are clearly concerned that growing supply chain disruptions and worsening affordability conditions that are harming demand are weakening the housing market,” Konter said. “The industry believes these challenges will grow worse if meaningful steps are not taken to allow builders to increase the supply of affordable single-family and multifamily for-sale and for-rent housing. If the housing sector falters, the economy will surely follow.”

Further exacerbating lumber price fluctuations are the tariffs on Canadian lumber shipments into the US, which, NAHB said, act as a tax on American home buyers at a time when housing affordability is already at a more than 10-year low.