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3w ago

White House Report Finds 10 Million-Home Shortage and Calls for Regulatory Cuts

The White House argues that deregulation would lower building costs to expand supply.

Workers install a window on a house under construction in Richardson, Texas, Monday, March 23, 2026. (AP Photo/LM Otero)
A sold sign sits on a lot for a home built by DR Horton in Richardson, Texas, Monday, March 23, 2026. (AP Photo/LM Otero)
A worker installs a window on a house under construction in Richardson, Texas, Monday, March 23, 2026. (AP Photo/LM Otero)
Workers install a window on a house under construction in Richardson, Texas, Monday, March 23, 2026. (AP Photo/LM Otero)

Overview

  • The Council of Economic Advisers, in a chapter released Monday, estimates the U.S. is short about 10 million homes after homebuilding fell off following the 2008 crash.
  • The report says a “bureaucrat tax” adds more than $100,000 to a typical new home by way of code changes, compliance work, and zoning approval fees, which it argues blocks projects from breaking ground.
  • Modeling in the analysis projects that cutting those costs could enable construction of up to 13.2 million homes, lift average annual GDP growth by about 1.3 percentage points over a decade, and support roughly 2 million jobs.
  • The administration points to March executive orders that direct agencies to trim housing rules and make mortgages easier for small lenders to offer, and an official said federal funds could be conditioned on state and local permitting reforms.
  • Limits and delays remain as a Texas judge ruled against Biden-era efficiency standards for federally backed housing, local zoning still controls much building, and AP notes mortgage rates have ticked up to about 6.37% during the Iran war.