NMHC’s Doug Bibby: Regulations Compound Development Costs
- Nov 30, 2018
On average, government-imposed regulations comprise 32.1 percent of multifamily development costs, according to a joint research study by the National Association of Home Builders (NAHB) and the National Multifamily Housing Council (NMHC). And in a quarter of cases, that proportion can be as high as 42.6 percent.
NMHC President Doug Bibby sat down with Multi-Housing News to discuss what the association is doing to try to remedy the deleterious impacts of these regulatory hurdles, among them slower construction timelines and resulting higher costs, which are ultimately passed down to renters. All of this serves to heighten an already severe housing affordability problem.
In his role, Bibby keeps the conversation alive between the industry and the nation’s policymakers. In this quarterly podcast series, he takes a deep dive into the issues that are having the greatest impact on multifamily housing, including financial, economic and—in this second installment—regulatory concerns.