In protest of what it sees as Congress’s failure to effectively deal with the housing slump and credit industry problems, the National Association of Home Builders announced in February that it was withholding contributions to congressional campaigns until further notice. The NAHB continues to lobby for housing incentives, reforms to increase the availability of larger mortgages, and modernization of the Federal Housing Act. Brian Catalde, 2007 president of the NAHB, said in a press release, “Housing and related industries account for more than 16 percent of the Gross Domestic Product. More needs to be done to jump-start housing and ensure the economy does not fall into a recession.”
http://www.deckmagazine.com/article/106.html#NAHB
Get a Peach full,
easy feelin’.
Replies
Yeah, 'cause these guys in no way contributed the this housing mess. What a bunch of self-absorbed hypocrits.
Correct me if I'm wrong, but how in the hell are relaxed underwriting guidelines and increased loan limits going to correct the problem? Seems to me the only thing that does is to encourage even more people to get in over the heads.
Edited 3/28/2008 8:29 pm by pino
I agree completely. They put a lot of air in the bubble, and now they want someone to bail them out of their bad investments. They assumed the risk and made lots of money, they should have put some aside to deal with the down times.
We're members of the NAHB. Not particularly active, but members nonetheless.
I don't agree with everything they do, but I don't expect them to do any different.
I haven't read the organizational charter, but I'm guessing their goal is to fight for their members. So I can't expect them to lay down if they see a problem, regardless of who is at fault.
Jon Blakemore
RappahannockINC.com Fredericksburg, VA