NAHB: Reopening the Government Was Crucial for Home Sales

From the reopening of the government to the Trump administration’s 50-year mortgage proposal, the housing market has faced a number of changes over the last few weeks alone. In the latest episode of the National Association of Home Builders’ Housing Developments podcast, CEO Jim Tobin and COO Paul Lopez discuss these changes at length.

During the episode, the two discuss why reopening the government was a critical step for the housing market, as well as the suspension of a ban on natural gas for new homes in New York state and recent legislation targeting the housing affordability crisis, among other updates for industry professionals.

Tobin and Lopez discuss how the reopening of the government was critical for home sales to be able to close unencumbered. And while it is a very positive development, Tobin cautioned that the deal to reopen the government came with a lot left to be negotiated by the end of the year, which might prove tricky as we head into holiday season.

In another positive development, they discuss the recent suspension of a gas ban on new homes in the state of New York. NAHB and the New York State Builders Association worked tirelessly to secure the suspension as litigation over the gas ban works through the appeal process.

The case is much larger than just New York. Tobin noted, “If this works out, it could effectively stop state or local gas bans.”