One Banner Year After Another

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The NAHB made significant progress on a number of key issues in 2003.

January 01, 2004

 

The NAHB made significant progress on a number of key issues in 2003.

We worked with the Bush administration to help enact economic stimulus legislation that is moving the economy forward and will help home building businesses prosper. The legislation also preserves the value of the Low-Income Housing Tax Credit.

We also made progress in our effort to promote establishment of a secondary market for acquisition, development and construction loans. The Department of Housing and Urban Development granted Fannie Mae permanent program authority to purchase residential AD&C loans.

The industry’s most difficult — and unresolved — challenge in 2003 involved the administration’s proposal to move program oversight for Fannie Mae and Freddie Mac from HUD to the Treasury Department. Treasury should not oversee new program approval, and we will continue this fight.

But more than a million new homes were sold in 2003, and 2004 looks to be another banner year.

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