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Politicians pledge to address housing issues, but homebuilders find limited solutions.


In Wichita, Kansas, homebuilder Carl Harris has had to increase the price of his new-construction homes from $330,000 to $450,000 due to rising costs of building materials, labor, and land. This increase in prices has made homes unaffordable for many families in the area. Homebuilders across the country are facing similar challenges, including a shortage of workers, increasing building restrictions, and high costs. Estimates suggest that the U.S. needs an additional 1.5 million housing units to rebalance the market.

Vice President Kamala Harris has proposed providing down payment assistance to first-time homebuyers, while former President Donald Trump has suggested opening federal land to development to lower housing costs. However, homebuilders emphasize that the issues they face have been building for nearly two decades and will take time to resolve.

The shortage of workers in the construction industry has been a major barrier to increasing housing supply and driving down prices. The cost of building materials has also spiked during the pandemic, further contributing to the rise in home prices. Homebuilders have been forced to scale back the size and features of their homes and move developments further out from city centers to lower costs.

Ultimately, homebuilders are calling for efforts at the local, state, and federal levels to remove barriers to building more affordable homes and increase the overall supply. The industry is eager to address these challenges and provide more affordable housing options for buyers.

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www.nbcnews.com

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