The National Association of Home Builders (NAHB), the home building industry’s trade association, spent $852,689 lobbying Congress in the third quarter.
Their goal was to support bills that would help homeowners in foreclosure and make it easier for potential homeowners to buy.
One of the bills included measures to expand affordable housing, reinstate seller-backed down payment aid, prevent foreclosures and stimulate the economy.
Falling home prices combined with tightened lending practices and less demand for homes have resulted in a bumpy ride for home builders.
In an effort to provoke homebuying and boost the economy, NAHB has been pressing lawmakers to create a U.S. economic stimulus package that would include incentives for people to buy homes.
They contend that previous efforts have failed and that it’s time for a new approach.
NAHB wants to reinstate programs that allow sellers to channel down-payment cash to money-strapped homebuyers through charities.
Congress had previously eliminated these programs because the homebuyers who took advantage of them wound up having high default rates.
In other efforts to boost the housing market, NAHB also spent money lobbying the departments of Commerce, Education, Energy, Transportation, Treasury, Agriculture and Justice and the Environmental Protection Agency (EPA) and Housing and Urban Development (HUD).
Tags: economic stimulus, economy, foreclosure
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