Regulatory costs imposed by all levels of the US government account for 24.3% of the sales price of a new single-family home this year, according to a new study by the National Association of Home Builders.
NAHB chairman Ed Brady says the study highlights the overregulation of the real estate industry, asserting regulatory costs inhibit “builders' ability to produce competitively priced homes in a still recovering housing market,” World Property Journal reports.
Today, regulatory costs as a percentage are similar to NAHB’s previous estimates from 2011, but since prices for new homes have risen over the years, so too have regulatory costs. [WPJ]
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