Buddy Hughes, chairman of the National Association of Home Builders (NAHB) and a home builder and developer from Lexington, North Carolina, issued the following statement after Federal Housing Finance Agency (FHFA) Director Bill Pulte announced that Fannie Mae and Freddie Mac will be permitted to significantly increase their annual Low-Income Housing Tax Credit (LIHTC) investments:
NAHB applauds President Trump and FHFA Director Pulte for taking action that will allow builders to construct and rehabilitate badly needed rental housing by allowing Fannie Mae and Freddie Mac to double their annual LIHTC investment cap from $1 billion to $2 billion annually. This is a concrete step toward solving the nation’s housing affordability crisis. The additional LIHTC investments by Fannie Mae and Freddie Mac will ensure developers have access to the financial resources to deliver affordable rental homes to the millions of Americans who are rent burdened.”
ABOUT NAHB: The National Association of Home Builders is a Washington-based trade association representing more than 140,000 members involved in home building, remodeling, multifamily construction, property management, subcontracting, design, housing finance, building product manufacturing and other aspects of residential and light commercial construction. NAHB is affiliated with 700 state and local home builders associations around the country. NAHB’s builder members will construct about 80% of the new housing units projected for this year.
