National Institute of Building Sciences to Host Housing Affordability Hearing

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National Institute of Building Sciences

Oct 04, 2023, 10:37 ET

The event will cover the state of housing affordability and solutions to bring down the cost of housing

WASHINGTON, Oct. 4, 2023 /PRNewswire/ -- The National Institute of Building Sciences (NIBS) Consultative Council will hold a public hearing on November 6 at the National Press Club to discuss the state of housing affordability for middle- and working-class Americans.

The hearing will examine the causes of the major increases in cost for homes, what builders are seeing and hearing from customers and stakeholders, and explore possible cutting-edge and underutilized solutions from the materials sector that may help bring down costs.

"Housing affordability is a serious issue for many American families," said Stephen T. Ayers, FAIA, Interim CEO of NIBS. "Whether it's offsite construction or other innovative construction means and methods, we must find solutions to alleviate this crisis."

Hearing speakers include officials with the U.S. Department of Energy, U.S. Department of Housing and Urban Development, Urban Institute, National Association of Home Builders, and the Joint Center for Housing Studies at Harvard University.

The day-long hearing will take place in three parts:

Session 1: State of Housing Affordability
Session 2: Examining Solutions – Innovation and Best Practices
Session 3: Examining Solutions – Construction Means and Methods

Affordable housing generally is defined as housing where the occupant pays no more than 30 percent of gross income for housing costs, including utilities.

According to Pew Research Center, a rising share of Americans say the availability of affordable housing is a major problem in their local community. In October 2021, about half of Americans (49 percent) said this was a major problem where they live, up 10 percentage points from early 2018.

The hearing is open to the public with options to attend virtually or in-person. NIBS will publish a report of hearing events and key findings in early 2024.

About NIBS

National Institute of Building Sciences brings together labor and consumer interests, government representatives, regulatory agencies, and members of the building industry to identify and resolve problems and potential issues around the construction of housing and commercial buildings. NIBS is a non-profit, non-governmental organization. For more information, visit nibs.org or follow @bldgsciences on Twitter and Facebook.

SOURCE National Institute of Building Sciences