Following President Barack Obama's State of the Union Address, in which he outlined his plan for the housing market in the country, National Association of Home Builders Chairman Bob Nielsen praised efforts to get the industry back on track.
The president announced proposals to seek refinancing aid for homeowners and assist the housing market to a full recovery, which he hopes will assist Americans who hope to start packing
in order to move into a new home.
The plan outlined by Obama would make thousands of vacant homes available for rent, which is not very popular among Republican leaders, but Nielsen is in full agreement with the plan.
"The nation's home builders commend President Obama for highlighting the vital role that housing plays in the U.S. economy, for recognizing the high value that Americans place on homeownership and for focusing on how to address the nation's housing problems," Nielsen said. "Clearly, more decisive actions are needed to increase refinancing opportunities, to reduce the inventory of foreclosed homes and to prevent additional homes from going into foreclosure. NAHB looks forward to working with the administration and Congress to find constructive solutions in these areas as soon as possible."
The housing market has shown small signs of recovery, but continues a downward trend, as evidenced by new-home sales declining 2.2 percent in December.