Tariff Worries Weigh on Markets
The uncertain timing and scale of tariffs, combined with the last legs of the fight against inflation, have rattled financial markets. Equity markets are in correction territory as investors react to a flurry of public finance proposals, including the largest proposed tariff hikes since World War II. A special question for the March Housing Market Index revealed that builders estimate the recent tariff actions will have an average cost impact of $9,200 per home. At the same time, efforts to extend the 2017 tax cuts are well underway, and the admin- istration has made moves to reform burden- some regulatory rules. Read a full summary from NAHB Chief Economist Robert Dietz. |
NAHB Warns Congress on SALT As Congress considers extending the 2017 Tax Cuts and Jobs Act (TCJA), an area of emerging concern is a proposal to cap or eliminate the ability of a business to deduct state and local tax (SALT) payments – including property tax payments – from its federal taxes.
NAHB recently joined 17 real estate groups in sending a letter to Congress warning that pursuing this strategy would significantly harm the real estate industry, reduce investment and lower property values. |
HUD Delays Rule on 2021 IECC
In a win for NAHB and the housing industry, the Trump administration has announced a six-month delay before the Department of Housing and Urban Development (HUD) begins enforcing the compliance dates for adopting the 2021 International Energy Conservation Code (IECC) and ASHRAE 90.1-2019 as the minimum energy-efficiency standards for certain single- family and multifamily housing programs |
Solid Remodeling Demand in 2025 An aging housing stock, record levels of home equity and favorable demographics will create positive growth prospects for the remodeling sector in 2025, according to industry experts at a panel hosted by the (NAHB) during IBS in Las Vegas.
The outlook bodes well for the remodeling sector. Consumer inflation remains a concern as shelter costs continue to be sticky despite tightening measures by the Federal Reserve. And while lower mortgage rates may be on the horizon, long-term interest rates could remain flat or even increase with larger fiscal deficits. Ongoing housing affordability challenges signal that demand for remodeling will remain solid in 2025. |
NEWEST MEMBER SAVINGS PROGRAM Ford Pro NAHB members can now enjoy discounts of $500-$5,000 on Ford Pro’s world-class cars, trucks, vans, and SUVs. Discount is stackable with local offers.
Learn more here on how to take advantage of this savings. www.nahb.org/savings
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| Watch Video Highlights From 2025 IBS Meetings NAHB members who were unable to join us in Las Vegas this February for the leadership meetings at the 2025 IBS can watch the highlights on nahb.org, including: NAHB Chief Economist Dr. Robert Dietz provides a post-election economic outlook and Department of Housing and Urban Development (HUD) Secretary Scott Turner addresses the Leadership Council and vows to work with builders to cut regulations and boost housing supply. |
60% of U.S. Households Can’t Afford $300K Home NAHB has updated its housing affordability graph for 2025, and the latest data show that 76.4 million households — 57% out of a total of 134.3 million — are unable to afford a $300,000 home.
The graph is based on conventional underwriting standards that assume the cost of a mortgage, property taxes and property insurance should not exceed 28% of household income. For example, the minimum income required to purchase a $200,000 home with a mortgage rate of 6.5% is $61,487. At the base of the graph are 52.87 million U.S. house- holds with insufficient incomes (below $61,487) to be able to afford a $200,000 home. |
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