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Monday, March 30, 2020
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Residential Real Estate

Georgia, South Carolina Homebuilders Urge Reviving Housing Market

Category: Residential Real Estate

Along with national housing industry leaders, Steve Brock, founder and CEO of Brock Built Homes in Atlanta, who is the president of the Georgia Association of Homebuilders and  Steven Mungo, president-elect, of the Homebuilders Assn. of South Carolina and CEO pf Mungo Companies in Irmo, S.C., held a press conference last week on the state of the housing industry.
“Although there have been some signs of economic stabilization in recent weeks, the unemployment rate is rapidly approaching double-digits. Without a concerted focus on the housing market, which comprises 14 percent of the GDP, any hope for a recovery could fade,” they said in a joint statement. 
Their goal is to “push for Congress to take bold and decisive action to spur a housing and economic recovery.” 
According to Brock and Mungo, major issues affecting the housing market include the need to extend and enhance the $8,000 home buyer tax credit program; the need to correct the faulty appraisal process and need to improve housing credit conditions; and the legislators to support the Net Operating Loss (NOL) relief legislation currently in the House and Senate
David Crowe, Chief Economist with the National Association of Homebuilders spoke about the housing market conditions in North Carolina, South Carolina and Georgia, as well as the national outlook.

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