Week of May 11, 2009
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NAHB Chairman Joe Robson testified before Congress earlier this year on AD&C and other banking issues.

Builders Say Banks Putting a Cold Chill on Recovery Hopes

Working with regulators, lawmakers and banks to try to end the stranglehold on acquisition, development and construction (AD&C) loans that has emerged as a major impediment to a housing recovery, NAHB has compiled more than 100 case studies from builders across the country to show policymakers how the credit crisis is undermining efforts to restore the health of the nation’s economy.

“The studies confirm what we’ve been hearing from builders in the field,” said NAHB Chairman Joe Robson. “Builders and developers are reporting excessive credit restrictions, where lenders are cutting off loans for viable new housing projects and producing unnecessary foreclosures and losses on AD&C loans. We cannot get the economy back on track until we restore the flow of credit that is vital for the production of housing.” ...

Framing Lumber Composite $ 200 $ 6
OSB Composite $ 171 $ 1
Southern Pine Plywood Composite $ 355 $ 4
With permission from: www.randomlengths.com 
 

Affluent Baby Boomers the ‘Sweet Spot’ in 50+ Housing Market

With today’s steep recession undermining many previous assumptions about the active adult housing market, John McKeown, president of Conemarra Partners in New York, N.Y., told attendees at NAHB’s Building for Boomers and Beyond 50+ Housing Symposium in Philadelphia on April 27-29 that there is a fast-emerging “sweet spot” in the market for those who focus on the most affluent members of the baby boom generation.

McKeown proposed a new model for developing active adult housing that shifts toward more urban environments and traditional new town development, is smaller in size and is part of a larger community. ...

HBAs Activate Superhero Powers for National Membership Day


NAHB members and membership chairmen from Florida to Oregon have activated their extraordinary powers for a superhero showdown to grow and revitalize their home builders associations during National Membership Day — the federation-wide membership drive — set for Tuesday, May 19.

This year’s “Superhero” campaign promotes the power of participation and the strength of recruitment teams to boost federation membership efforts throughout the year — and to ward off the wicked Vanity, with her apathy powder and evil pet vulture, on National Membership Day. ...

Next Week: NAHB Member Resources to Get Back to Business

In the May 18 edition, Nation's Building News will be publishing a compilation of the NAHB resources available to members that will help them sell homes and do business in today's very tough market conditions.

Interest Rates  
  30-Yr. Fixed: 4.84% 15-Yr. Fixed: 4.51% 5 Yr. ARM: 4.90%
  1 Yr. ARM: 4.78% Libor (3 months): 0.92% Prime: 3.25%
Housing Starts*  (March 2009)
  Total: 510,000 Single: 358,000 Multi: 152,000
Home Sales*  (March 2009)
  New: 356,000 Existing: 4.57 million  
Median Home Prices  (March 2009)
  New: $201,400 Existing: $175,200  
* Seasonally Adjusted Annual Rate

   
 
 
   
 
Drive Away With a Shiny New $500 GM Offer
$1.99 Special Offer From Williams Scotsman
FTD Offers 15% Discount to NAHB Members
 

 
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