This week the National Association of Home Builders told the U.S. Congress that layers of excessive regulation translate into higher rents, reduced affordability for consumers and on average, account for almost one-third of a multifamily project's development and building costs.

Testifying on behalf of NAHB before the House Financial Services Subcommittee on Housing and Insurance, Steve Lawson, chairman of The Lawson Companies based in Virginia, said that overregulation of the housing industry is felt at every phase of the building process.

"It results from local, state and federal mandates," said Lawson. "It includes the cost of applying for zoning and subdivision approval, environmental mitigation, and permit, hook-up, impact and other government fees paid by the builder. In many cases, these projects become financially infeasible and, therefore, are not built." Read more at World Property Journal.