Tri Pointe Homes, now a subsidiary of Sumitomo Forestry, CEO Doug Bauer said Wednesday that the newly approved bipartisan housing bill is unlikely to solve America’s affordability crisis, arguing the real barriers to affordable housing lie at the state and local level rather than in Washington.
Speaking on CNBC’s Squawk on the Street, Bauer said the 21st Century ROAD to Housing Act offers only marginal benefits for market-rate homebuilders such as Tri Pointe Homes Inc., despite investor optimism around the legislation.
"The need for housing and a broader supply of affordable housing really has to happen at the state and local level," Bauer said.
"It’s not going to be fixed at the federal level." The 21st Century ROAD to Housing Act, co-sponsored by Sen.
Elizabeth Warren (D-Mass.) and Sen.
