Political Quotes

“Madam Speaker, I rise today to express concern about the building material supply change bottlenecks and elevated construction costs that continue to put a damper on the single-family housing market. For the first time since June 2020, both single-family starts and permits fell below a 1 million annual pace. Additionally, builder confidence in the market for newly built single-family homes declined for the seventh straight month in July, falling 12 points to 55. According to the National Association of Homebuilders and the Wells Fargo Housing Market Index released just this week, this marks the lowest HMI reading since May 2020 and the largest single-month drop in the history of the HMI, except during the pandemic. Building material prices during the pandemic have hit record highs with low stock, and prospective buyers are faced with unaffordable home prices as a result. Affordable housing is a critical need in the Inland Empire, the district that I represent, and I urge the administration to prioritize the ability and the availability and price of lumber to make more homes affordable. ____________________”