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MHI’s Daily Testifies about Government Regulation on Housing Costs

March 24th, 2016 Comments off

affordable_hosuing__www_dot_rtethinking_housing_dotca_backslash_comma_van_sunFollowing MHProNews post from this morning regarding the MHI’s Mr. F. R. Jayar Daily’s testimony before the House Subcommittee on Housing and Insurance regarding the impact of government policies on housing cost, realestaterama reports on the other witnesses who spoke, giving one scant paragraph from Mr. Daily’s statement about manufactured housing: “While the HUD Code has brought standardization to the industry, in order for manufactured housing to achieve its full potential in addressing the affordable housing needs of the nation, the administration of the HUD Code should be improved to better account for cost impacts and industry practices.”

Chairman Blaine Luetkemeyer (R-MO) led off with, “Government has inserted itself into the business of housing by mandating affordable housing and community reinvestment while simultaneously stifling creation of affordable housing and community reinvestment. It’s time to promote the development and availability of housing for low- to mid-income Americans, not restrict it.”

Other remarks came from Clyde Holland, representing multifamily and apartment associations, who said zoning can make it very difficult to build multifamily units, especially if the zoning has to be changed, which ups the cost considerably.

Granger McDonald, representing the National Association of Home Builders (NAHB), said housing plays a vital role in the economy, but 25 percent of the cost of an average single-family home is due to regulations from all levels of government from the development to final construction.

Mechele Dickerson, from the University of Texas at Austin School of Law, said while homeownership rates have been falling, rents have been rising since the Recession, and renters are now the majority in nine of the largest U. S. 11 metropolitan areas. She said, “While there is a robust market for high-end, luxury apartments, affordable rental units are not being built at a rate that is keeping pace with the heightened demand for those units. It is especially difficult for middle-income families to find affordable rental units in large U. S. cities.” ##

(Image credit: rethinkinghousing.ca/vansun–affordable housing)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.

Legislative Update—U.S. House of Representatives

May 28th, 2013 Comments off

From the Manufactured Housing Institute (MHI)’s newsletter MHProNews learns Rep. Blaine Luetkemeyer (R-MO), a member of the House Financial Services Committee, has introduced the Community Lending Enhancement and Regulatory Relief Act (CLEAR Act). H. R. 1750 is designed to help smaller financial institutions obtain capital and provide loans to their clients. The newsletter says: “Among the changes included in the bill is an increase from $500 million to $5 billion in the threshold included in the Federal Reserve’s Small Bank Holding Company capital guidelines, relief from escrow requirements, mortgage relief for loans held in portfolio and an increase in the smaller servicer exemption threshold from 5,000 to 20,000 loans.”

(Image credit: Manufactured Housing Institute)