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The National Association of Home Builders chairman Jerry Konter issued the following statement in response to this week’s House Ways and Means Committee Hearing, Nowhere to Live: Profits, Disinvestment, and the American Housing Crisis:

“Committee members at today’s hearing would have benefited by hearing directly from builders and developers who can best speak to the challenges and barriers to solving our housing crisis. Rising home prices and interest rates are taking a terrible toll on housing affordability, with 87.5 million households — or roughly 69% of all U.S. households — unable to afford a new median-priced home.