By an overwhelming margin, American voters strongly value homeownership and would oppose efforts to weaken or eliminate the mortgage interest deduction or diminish a federal role to help qualified home buyers obtain affordable 30-year mortgages, according to a new nationwide survey gauging likely voters’ attitudes towards homeownership and housing policy issues.
“The American electorate is sending a clear message that owning a home remains a cornerstone of the American Dream and preserving a federal commitment to homeownership is essential to maintain a thriving middle class and get housing and the economy back on track,” said Neil Newhouse, a partner and co-founder of Public Opinion Strategies.
Conducted on Jan. 2-5 on behalf of the National Association of Home Builders by the Republican and Democratic polling firms of Public Opinion Strategies in Alexandria, Va., and Lake Research Partners in Washington, D.C., the comprehensive survey of 1,500 likely voters includes data from key political “swing areas,” including National Journal political analyst Charlie Cook’s swing House and Senate seats and Stuart Rothenberg’s presidential swing states. The survey, which has a margin of error of ±2.5 percent, is a follow-up to a similar national poll conducted last May.
NAHB News: Study Finds Government Regs Are 25% of New-Home Cost
NAHB’s study, How Government Regulation Affects the Price of a New Home, provides estimates of the impact that such regulations have on the price of a home. And those estimates are truly eye-opening; they indicate that, on average, regulations imposed by government at all levels account for 25.0% of the final price of a new single-family home built for sale. Nearly two-thirds of this — about 16.4% of the final house price – is tied to higher costs associated with the finished lot due to regulations imposed during the lot’s development. A little over one-third — 8.6% of the house price — is the result of costs incurred by the builder after purchasing the finished lot.
The study points out that the relatively high share of regulatory costs affecting a home during its development are particularly significant in the current environment, when there is a low level of developed land in the pipeline. Thus, in most cases the full range of regulatory costs—those that fall on development as well as construction—will need to be overcome if production and employment in the housing industry are to get back on track. For more information, contact study author Paul Emrath at 800-368-5242, x8449.
The North Carolina Builder Institute recently created a new designation in response to the increased demand for remodeling. The Accredited Remodeler designation provides students with a more in-depth knowledge of the remodeling segment. Click here for more information.