Homebuilders Respond to May Revise, Call on State Government to Support Homeownership

Revitalizing Industry Key to State’s Economic Recovery

Wednesday, May 14, 2008

Contact:
John Frith
(916) 443-7933 ext. 332
(916) 803-3005 (cell)
jfrith@cbia.org  

SACRAMENTO – Today, California Building Industry Association (CBIA) President & CEO Robert Rivinius released a statement emphasizing the importance of homeownership for California’s economy and urged the Legislature to solve the budget crisis facing the state by supporting the state’s housing industry.

“Governor Schwarzenegger clearly understands the importance of homeownership to the state economy and the fiscal health of the state. His efforts to stimulate the industry as well as preserve and expand homeownership have been appreciated and are crucial to a recovery in the new home construction market.

As we know, the downturn in the housing sector was one of the primary causes of our current fiscal situation. Similarly, increasing homeownership can be a catalyst to help families prosper, deliver important municipal revenues and strengthen our state’s overall competitiveness.

Homebuilders are working with elected officials and community leaders at all levels of government to stimulate a recovery in the industry and to stop efforts that would hurt homeownership. Increasing regulations and cost is a recipe for deepening the recession. Instead, we must seek to incentivize the production of and purchase of homes for first-time buyers and working families. That will create jobs, increase tax revenues and support the provision of important public services like public education, law enforcement, freeway construction and parks and recreational opportunities.

Homebuilding is one of the main economic engines in California. Supporting homeownership – not hurting it – is the best policy the legislature can adopt to revitalize the economy and cure California’s fiscal woes. Homebuilders have a deep understanding of the state’s economy and our current budget challenges. We look forward to working collaboratively with the Governor and the legislature to remedy our current budget crisis.”


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The California Building Industry Association is a statewide trade association representing more than 6,700 businesses - homebuilders, remodelers, subcontractors, architects, engineers, designers, and other industry professionals. A recent study determined that homebuilding, when flourishing generated approximately $60 billion a year to the California economy and creates an estimated 526,000 jobs statewide. More information is available at, www.cbia.org/go/cbia/newsroom/revive-homeownership/.