New Website Helps Protect Homeownership

America’s home owners and home builders celebrate National Homeownership Month in June, bringing attention to the more than 75 million Americans who own their homes, and the millions more who aspire to achieve the American dream of homeownership. But it is also important for American families to know that homeownership is under attack. Legislative and regulatory proposals now under consideration by government policymakers would greatly harm home owners, home buyers, the housing market and the nation's economy.

To educate Americans about the threats to homeownership and to provide opportunities for current and future home owners to take action to protect it, the National Association of Home Builders (NAHB) has launched a website, www.ProtectHomeownership.com. The site features expert economic analysis and reports, data from homeownership surveys and polls, and the answers to many frequently asked questions about housing and homeownership.

ProtectHomesownership.com highlights the threats to homeownership by describing how tax, legislative and regulatory policies currently under consideration would scale back or eliminate the mortgage interest deduction and make mortgages and small business loans unaffordable and difficult to obtain. It tells how finance and credit-related issues are making it difficult for creditworthy, financially responsible families to buy a home and threaten to ultimately prevent millions of families from ever becoming home owners.

The site documents homeownership's importance to individual households and to local, state and national economies. It shows how new home construction and remodeling presently account for about 15 percent of the nation's total economy, and how the financial issues are impeding production of new homes. The economic impact of home building includes construction of single-family and multifamily homes, remodeling and the countless products and services that are related to those activities. 

Protecthomeownership.com also empowers the American public to take positive action to support and protect this very important aspect of American life. Visitors are encouraged to sign an online petition urging Congress to keep housing a national priority, and to join social media communities on Facebook.com/ProtectHomeownership and Twitter.com/4Homeownership.

Information is provided about how to participate in Homeownership Rallies that are being held in a number of communities in 2012. The first rally, in Columbia, S.C., drew almost 1,000 people to the statehouse grounds to voice their support and focus the government’s attention on critical housing issues.

For more information on the impact of housing and homeownership, go to www.hbagta.com or www.ProtectHomeownership.com.  

New Homes Strengthen Economy Year-Round

WASHINGTON, April 4--While the housing industry celebrates New Homes Month in April, home builders want Americans to know just how much of a positive, direct impact residential construction has on the U.S. economy throughout the entire year.

"Home building is a key driver of the American economy," said NAHB Chairman Bob Nielsen, a home builder from Reno, Nev. "By generating economic activity including new income and jobs, purchases of goods and services, and revenue for local governments, housing--which has historically accounted for around 17 percent of the GDP--can put America back to work."

Economists at the National Association of Home Builders estimate that the one-year local impacts of building 100 single-family homes in a typical metro area include $21.1 million in local income, $2.2 million in taxes and other local government revenue, and 324 local jobs.

The employment effects extend beyond the home building industry. About half of the jobs are in construction, with the other 50 percent creating employment opportunities in industries ranging from production and sales of home furnishings to service providers such as real estate attorneys and landscapers.

Those 100 new homes also provide the community with additional, annually-recurring impacts of $3.1 million in local income, $743,000 in taxes and other revenue for local governments, and 53 local jobs.

The income earned from construction activity is spent and recycled in the local economy, and the new homes that are built become occupied by residents who pay taxes and buy locally produced goods and services. Those tax revenues help pay for a wide range of government services, including local school teachers, police departments and road repairs.

In order to accommodate population growth and necessary replacement of older homes, however, a long-run trend of approximately 1.7 million new homes a year is needed. Yet as of February 2011, the annual projection for housing starts stood at less than 500,000.

"The gap between actual home starts and what is required to fulfill America's future housing needs represents more than 3 million jobs," said Nielsen. "Restoring the health of the housing industry is a crucial first step in stabilizing our country's path to economic recovery."

During New Homes Month, home builders also bring attention to the advantages of newly-built homes, including safety, amenities, energy efficiency and floor plans to fit a wide variety of modern lifestyles. Combined with today's near record-low interest rates and competitive prices, the current market offers new home buyers unprecedented opportunities.

Home buyers can access resources to help guide them through the home-buying process on NAHB's website at www.nahb.org/forconsumers.