COLORADO SPRINGS, Colo. (KOAA) — A federal bill aimed at lowering housing costs is now under consideration.
Last month, Congressman Jeff Crank introduced the Freeing Residential Affordable Markets from Excess Regulation (FRAMER) Act, arguing it could help make homeownership more affordable for families.
New home construction continues across southern Colorado, but some builders say keeping prices down is becoming more difficult.
Mark Long, Managing Director of Vanguard Homes in Colorado Springs, says the state energy regulations are one factor contributing to rising costs.
“We are doing everything we can to lower costs on a house. We will lower the costs because we want to be competitive,” said Long.
He points to requirements such as light controls, pre-wiring for electric vehicle chargers and infrastructure to support future solar installation.
“These are the most recent ones,” said Long. “It’s simply adding costs.”
Colorado adopted energy codes to improve efficiency and reduce long-term energy use in new homes.
Crank, who represents Colorado’s 5th Congressional District, says the FRAMER Act would encourage states to roll back strict energy efficiency rules.
“This is one of the things that is certainly driving up the cost of housing,” said Rep. Crank. “The purpose of it is really to get at the rising cost of housing, and the best way to do that is to try and limit the amount that we have to pay for those houses.”
Supporters say the bill would give builders more flexibility and potentially lower upfront home prices. But, the Colorado Energy Office strongly disagrees.
Will Toor, the office's executive director, calls the proposal “misguided” and argues that energy-efficient building standards actually save homeowners money over time.
“You are actually saving money from the first month you buy the house,” said Toor. “If you look at the incremental costs in your mortgage for that small increase in construction costs, and compare it to your reduction in energy costs, from month one, you are saving money.”
Toor says it will help families financially in the long run.
Builders like Long say buyers should have more control over features.
“Our suppliers can do it. Our trades can do it, but no one is asking for it,” said Long.
The bill remains under consideration.
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