WASHINGTON – Today, during a Senate Committee on Banking, House, and Urban Development hearing, Senator Ruben Gallego (D-AZ) questioned Trump nominee’s nominee to be Director of the Federal Housing Finance Agency, William Pulte, on his plans to lower housing costs.
Senator Gallego knows that homeownership is a cornerstone of the American dream, but that dream is increasingly out of reach for too many Arizonans. That’s why he’s committed to working across the aisle to tackle the housing supply crisis head on, lower costs, and make homeownership more accessible for working families.
Watch Senator Gallego’s full questioning HERE.
Senator Gallego asked Pulte about what specific regulatory changes he would make to increase the supply of affordable housing, the first step to bringing down costs.
“Speaking to builders, developers and homeowners, I could see a remake of our regulations that are adding costs to the developers which are then passed on to the actual consumers and homebuyers. What specific regulations do you think need to be changed to support increasing the supply of housing?” Senator Gallego asked.
Pulte acknowledged the supply shortage, calling it “the number one issue” in the housing market.
“We don’t have a demand problem in this country, we have a supply problem in this country,” said Pulte.