National Association of Home Builders economist Robert Dietz told a Congressional committee recently that regulations could be hampering the home building industry. “Regulations imposed by the government at all levels account for 25 percent of the final price of a new single-family home,” he said. Dietz urged lawmakers to protect the mortgage interest deduction and Low Income Housing Tax Credit, and to enact a tax extenders bill that would retroactively extend expired tax rules such as the minimum 9 percent credit rate for the Low Income Housing Tax Credit and residential energy efficient tax credits for new construction and for retrofitting existing homes.
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