Biden Administration’s New Climate Rules Add $31,000 to Price of New Home, Industry Groups Say

Published on April 30, 2024

The Biden administration’s latest energy efficiency rule for new home construction will push up costs and make housing even less affordable at a time when house prices have just notched fresh record highs, according to two home builders associations. Last week, the U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of Agriculture (USDA) announced the adoption of updated minimum energy standards for new single-family and multifamily housing construction built with federal financing or funding. The Biden administration, which has set its sights on fighting the supposed ill effects of climate change, boasts that the new rules will generate an estimated reduction of as much as 6.35 million metric tons in carbon emissions over 30 years....