Tight Credit, Flawed Appraisals and Erratic Supply Chain Hurt Jobs
The budding housing revival driven by pent-up consumer demand still faces a number of obstacles, including tight credit for builders along with a stretched lot and building supply system in many markets that are barely keeping up with demand. The precarious support system to housing could threaten the fragile housing and economic recovery now under way, according to the National Association of Home Builders (NAHB).
"I talk to many of our builder members who are expressing increasing frustration that they can't get access to construction loans to develop lots in markets where demand is on the upswing," said NAHB Chairman Rick Judson, a home builder from Charlotte, N.C. "Not only is this keeping workers sidelined, it is frustrating potential home buyers and slowing the recovery."