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NAR Head Calls For Fed Intervention To Ease Housing Concerns
Published: October 30, 2007
Indianapolis -- National Association of Homebuilders CEO Jerry Howard urged the government Monday to deal with the subprime mortgage issue before the housing recession worsens, Inside Indiana Business reports.
The U.S. currently has nine months of housing inventory, as opposed to the four to six months it needs, Howard said during a speech at the Indiana Land Use conference.
The housing decline could improve by next summer if the government acts quickly, and economists say an annualized production of about 1.6 to 1.7 million units is sustainable for the next decade, according to Howard.
Howard also told the crowd that a nationwide, American National Standards Institute-approved green building standard will be available by the end of this year.
