The business group aims to build on 21st Century ROAD to Housing law momentum by advancing market-driven policies to increase supply, according to a senior Chamber official.
In the wake of the 21st Century ROAD to Housing Act becoming law, the U.S. Chamber of Commerce has created a Housing Advisory Council with the goal of advancing market-driven policies that help increase housing supply and promote affordability, “informed by the companies that build, finance, and supply housing.”
“Federal housing reforms have created an opportunity to turn policy momentum into real progress on one of the country’s most pressing economic challenges,” per the Chamber of Commerce release. March analysis from the agency indicates that the U.S. faces a shortage of 4.7 million homes.
The council is focused on three main areas:
- Addressing outdated zoning, land use and permitting processes that add time, cost and uncertainty to housing development
- Unlocking capital to support housing production via policy and market solutions that improve certainty and liquidity, while mobilizing private capital to scale development
- Expanding skilled trade pipelines, apprenticeships and employer-education partnerships to mitigate labor shortages that limit how quickly housing can be built
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