White House estimates $1 trillion regulatory burden on single-family home construction

Housing affordability for consumers improves when increased construction in supply-constrained, high-cost markets puts downward pressure on prices. The White House estimates that reducing regulatory burdens to spur this construction is necessary because government regulations add more than $100,000 in costs to each single-family home. This regulatory cost is the primary driver of a projected 10 million single-family home shortage. To address the deficit, White House economists are targeting local regulations and Biden-era federal climate restrictions. The White House claims the current shortage is a product of overregulation.