HUD Secretary Alphonso Jackson

Housing Affordability Worsens With High Building Costs

Rising interest rates and high land and production costs will continue to push the cost of housing beyond the means of many American families, and a disproportionate share of the blame for today’s sky-high prices goes to misguided local government policies, according to participants in a June 8 symposium on barriers to homeownership.

The one-day meeting in Washington, D.C. was sponsored by Wells Fargo Home Mortgage and attended by some 300 representatives from home building, home finance, Realtors®, housing affordability advocacy groups and government, including HUD Secretary Alphonso Jackson.

The symposium addressed the current economic and demographic conditions that are constraining homeownership, as well as the need to educate consumers and to provide financial services that meet the needs of low- and moderate-income families. ...

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Wisconsin Governor Jim Doyle

Wisconsin Law Puts Needed Limits on Residential Impact Fees

Builders and developers in Wisconsin advocating reform of impact fees in the state scored a swift victory on Tuesday, May 30 when Democratic Gov. Jim Doyle signed Senate Bill 681 (Wisconsin Act 477) into law — just seven weeks after the bill was introduced.

“Over time, this legislation will help control the cost of new homes because it will lower the cost of developing a lot,” said Bill Wendle, executive vice president of the Wisconsin Builders Association. “It will be most helpful to first-time buyers, especially low- and moderate-income families, because it will make it easier for them to buy that first home and enjoy the benefits of homeownership.” ...