The U.S. housing market was a major issue for voters in the 2024 presidential election, as low inventory continues to drive home prices to new highs. The eye-popping price tags of homes coupled with elevated mortgage rates in recent years have pushed the American dream out of reach for an increasing number of Americans in a prolonged affordability crisis.
Zoning rules, building codes, and labor standards are just some of the regulations that builders navigate during the process of developing a lot and building a home," Realtor.com chief economist Danielle Hale told FOX Business. "Builders and developers pay fees directly to the government, shoulder costs to study impacts of construction and comply with various rules, and also run into delays waiting for approvals," Hale explained.