More than 10,000 NAHB members from all 50 states and Puerto Rico sent a letter to President Biden on April 27 calling on the White House to take immediate action as the "growing housing affordability crisis is pushing the housing market to an inflection point that threatens to derail the current housing and economic expansion."

According to the National Association of Home Builders (NAHB), rising costs stemming from historically high price levels for lumber and other building materials, supply chain bottlenecks, rising interest rates,  regulations, and a persistent lack of construction workers have significantly decreased housing affordability conditions, particularly for entry-level buyers and renters.

The NAHB called for meaningful steps to allow builders to increase the supply of affordable single-family and multifamily for-sale and for-rent housing. NAHB warned the White House that if the housing sector falters, "the economy will surely follow."

Suspend lumber tariffs

In a letter to President Biden, the association said that tariffs on Canadian lumber shipments into the United States fueled lumber price volatility that it said has added more than $18,600 to the price of a new home since last August, residential construction industry workers called on the president to immediately suspend tariffs on softwood lumber imports from Canada and to enter into negotiations with Canada to pursue a new, long-term softwood lumber agreement.

The builder's group also called on the White House to address federal regulatory reform to reduce upward pressure on housing costs.

“Reducing burdensome regulations that account for nearly 25% of the price of building a single-family home and more than 30% of the cost of a typical multifamily development will provide more homeownership and rental housing opportunities for all Americans,” the letter said.

NAHB called on Congress to pass Rep. Bruce Westerman’s (R-Ark.) No Timber from Tyrants Act, which would ban lumber imports from Russia and ramp up responsible harvesting of timber from federal lands to create jobs and produce more sustainable wood products. It also called on Congress to pass the Ocean Shipping Reform Act, which it said would ease building material supply chain bottlenecks and allow builders to increase the production of affordable housing, and promote and fund job training programs.