President Obama last week named San Antonio Mayor Julian Castro as his pick to replace Shaun Donovan as Secretary of HUD.
Read more on the nomination at NPR.com.
Kevin Kelly, chairman of the National Association of Home Builders (NAHB) and a home builder and developer from Wilmington, Del., issued the following statement regarding President Obama's announcement to nominate San Antonio Mayor Julian Castro as the next secretary of the U.S. Department of Housing and Urban Development:
"NAHB congratulates Mayor Castro on his nomination as HUD secretary. Upon his confirmation to the Cabinet post, NAHB looks forward to working with Mr. Castro to promote policies that will ensure stable and liquid mortgage markets for single-family and multifamily housing and to address the many challenges that face our industry, including persistently tight credit conditions that are preventing qualified buyers from obtaining home loans."