I'm in the banking business and in the real estate development business, trying to do land development to build single family homes. I can't even tell you how much regulations we have to go through. As I said, The National Association of Home Builders estimates that the cost for any new home, newly built home, 25% to 30% of it, are due to regulations and taxes and impact fees. That's absurd. You go back 30, 40 years ago, that number may have been 10%. So it's just the total scope of regulations that have been brought onto our economy. (23:57–24:13)
CLAIM
Asserts that 25% to 30% of the cost of a newly built home is due to regulations, taxes, and impact fees.
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