We need to bolster housing industry

Bob Nielsen, Reno

Monday, Nov. 14, 2011 | 2:01 a.m.

The Nov. 5 column by Warren Hardy (“Steps to fixing the economy”) should be required reading for President Barack Obama and the Republican presidential contenders.

While the president, the GOP presidential hopefuls and virtually all Americans are in agreement that creating jobs is best the way to help the economy, our policymakers need to look at housing as a catalyst for job growth.

In normal economic times, housing accounts for nearly 18 percent of total economic output. Building 100 single-family homes creates more than 300 jobs and provides $8.9 million in taxes and revenues for state, local and federal governments and supports local schools, police officers and firefighters.

If our politicians are truly interested in finding a solution to our nation’s economic woes, they should follow Hardy’s prescription: Protecting the mortgage interest deduction, making credit more easily available to home buyers and home builders, and preserving access to affordable 30-year, fixed-rate mortgages are critical steps that are necessary to mend housing, preserve the American Dream of homeownership, create jobs and lead the nation to long-term economic prosperity.

The author is the chairman of the National Association of Home Builders.