Builders to Obama: What About Housing?

Washington, DC, Sept. 12, 2011 -- The National Association of Home Builders says that President Barack Obama's proposed jobs plan doesn't do enough to address housing issues.

"While the nation's home builders commend President Obama for tackling critical employment issues, it's discouraging that the Administration still fails to recognize that housing has a central role to play in restoring the nation's workforce," said Bob Nielsen, chairman of the National Association of Home Builders, in a press release.

"In normal times, housing accounts for 18 percent of the nation's gross domestic product, and nothing packs a bigger local economic impact than home building. Constructing 100 average single-family homes generates more than 300 full-time jobs, $23.1 million in wage and business income and $8.9 million in federal, state and local tax revenue."

Among other suggestions, Nielsen said that federal regulators should move to end the credit freeze for new home production.