The National Association of Home Buildings wants to mount popular political pressure on the White House to do something about "issues threatening the housing industry," as the text of its open letter seeking co-signers notes.

"On behalf of the 140,000 members of the National Association of Home Builders (NAHB), we are writing to urge the White House to take immediate action as the housing market is reaching an inflection point that threatens to derail the current housing and economic expansion," the organization wrote.

The letter mentions a few: rising interest rates, skyrocketing home prices and rents, and escalating materials costs. Heaven knows there is true pain in the housing construction industry. The construction PPI, or producer price index—which measures the year-over-year growth of prices paid by the industry for goods and services—sits at outrageous levels announced last week. Inputs to multifamily residential construction, excluding capital investment, labor, and imports, were up 20.1%. For single family homes, the increase was 20.4%.