Secretary of Housing and Urban Development (HUD),

Secretary of Housing and Urban Development (HUD), Scott Turner, on the way to bring down home prices: “Taking regulations down not just from a federal level but also encouraging… localities in the states and cities. Mayors and economic development to take down your regulatory environment so that developers can develop and builders can build.”

“Right now, it costs about 40% in cost of regulations just to build a multi-family development—about 20-25% of cost in regulations to build a single-family development. So we have to attack the regulatory environment going forward.”