US builders have marched on Capitol Hill to plea for a housing package to be included in America’s expected economic stimulus plan.
The Fix Housing First Coalition, led by the National Association of Home Builders (NAHB), met with congressional leaders to ask for improvements to the homebuyer tax credit, as well as below-market interest rates on 30-year fixed-rate mortgages.
US housing starts have plummeted, which has severely hit the volume of timber product sales, leading to big problems for the big timber producers.
NAHB chief economist David Crowe said the coalition’s plan would result in 200,000 additional new home sales, and a boost in expected housing starts from 649,000 to 908,000.
