Jobs lost, businesses closed and deep declines in the stock market have everyone bracing for a major economic downturn. The National Association of Home Builders (NAHB) is working to support its builders and construction professionals in a number of ways.
Your local NAHB is working with government to help ease the economic challenges faced by the construction industry. For example, the NAHB’s federal legislative affairs team worked with members of Congress to provide relief through the $2.2 trillion stimulus package.
The NAHB has also been a source of vital information about changing policies, public health, financial aid and other COVID-19 related news. The resources page is updated throughout the day and can be found here: NAHB.org/coronavirus.
Townhall meetings and webinars hosted by the NAHB provide construction managers with vital information on how to stay in business through these difficult times.
After analyzing the effects of social distancing on the construction industry, Robert Dietz, NAHB chief economist, predicts the second quarter GDP will see its worst performance in decades. While this dip in the economy will be extreme, Dietz forecasts that it may also be short.
One of the reasons for this is, thanks to NAHB legislative advocacy efforts, the Department of Homeland Security declared residential construction an “essential critical infrastructure workforce.” While the safety of work crews onsite is the NAHB’s highest priority, they are hoping that home building can help to restart the economy.
“We’re proud of our members who donated unused N95 respirator masks and similar personal protective equipment to healthcare workers fighting against the coronavirus,” says Dean Mon, chairman of the NAHB. “In these trying times we encourage you to stay connected not only with NAHB but also with each other. We are all in this together.”