Business View Magazine | April 2021

28 BUSINESS VIEW MAGAZINE APRIL 2021 and anticipated a large drop in demand. But housing weathered the storm much better than was predicted fueled by low interest rates, and demand for lumber has accelerated. KCHBA contributed to a dialogue between key members of Congress, the Trump administration, and the National Association of Home Builders (NAHB) to address the spike in lumber prices in which the U.S. Secretary of Commerce Wilbur Ross repeatedly acknowledged the critical role home building plays in the U.S. economy. Altogether, the result of rising costs for land, labor and lumber mean higher home prices for consumers. Many cities, including many within the Kansas City metro, are making housing affordability a priority. There is no single “silver bullet” solution, however, to the challenge of making housing more affordable. The effort requires comprehensive strategies and a variety of tools that can be used – alone or in combination – to reduce costs, boost supply, and empower aspiring home buyers. In order to design those strategies and tools, an understanding of the underlying costs of new construction (and where they come from) is critical to the success of this important effort. Neither the public nor the private sector can meet the challenge alone. Together, we must seek, implement and devise innovative solutions that enable more families to achieve homeownership or have access to suitable rental housing. As the voice of the housing industry in Kansas City, the KCHBA is actively participating in important ongoing discussions occurring in various municipalities around Kansas City. The home building industry was an economic bright spot over the course of 2020. With the right leadership and partnerships in place, it can remain so this year and well into the future. The 3 “L”s facing the home-building industry right now are land, lumber and labor. The Parade of Homes awards ceremony is one of the KCHBA’s most popular events. In an effort to promote careers in construction, the KCHBA takes high school students on tours during the Parade of Homes and talks to them about the various career opportunities available in the home-building industry.