Homebuilding Leaders Call for Reforms To Boost Construction Financing and Cut Costs

The fight for more housing is coming to your backyard. Banking, home construction, and government leaders urged Congress to advance more reforms that would bolster the housing market. Speaking at a D.C. conference at the U.S. Chamber of Commerce, they said the newly passed 21st Century Road to Housing Act misses a number of key issues that impact Americans' ability to buy homes.The government must now act on dozens of provisions in the bill, and standing up new programs and rules will take time. Lawmakers behind the bill also said they have more ideas for housing reforms. And the industry is lobbying for more changes—and not just at the federal level."Half of what we do every day, it really is local politics," Ross Perot Jr., founder and chairman of Dallas-based Hillwood Development Co. "You have to get along with the city councils, the county officials, the mayors to do these big complex projects. The better you are on your politics, the higher probability you'll have success." The industry insights give a view into what major industries in the housing world are telling Congress and local governments as they capitalize on Washington's focus on affordability.Financing hurdles for h...