Calls for Action on Economy Issued by Home Builders

Brian Catalde, president of the National Association of Home Builders (NAHB), issued the following statement today from the association’s Fall Board of Directors meeting in Seattle. The statement follows the release of August employment figures that shows the U.S. economy suffered a decline in payroll employment for the first time in nearly four years, including a large drop of 23,000 jobs in residential construction:

“In light of the significant decline in employment reported today, NAHB and its 2,800 board members call on the Administration, Congress and federal regulators – along with stakeholders in the private sector - to work in concert to prevent further deterioration in the housing market and erosion of growth in the nation’s economy. Today’s job report jolted Wall Street, demonstrating the paramount importance of restoring consumer and investor confidence in the U.S. economy and housing market.”