| May 4, 2009 |
By Joe Robson
NAHB Chairman and
Jerry Howard
NAHB President and CEO |
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We asked you to tell us about your experiences
with AD&C lending, and you responded. To date, more than 100 builders have told us about their ongoing AD&C financing problems.
We will use these examples to create case studies that will bolster our arguments with federal regulators, legislators and others to illustrate the degree of the crisis our industry is facing.
We greatly appreciate the responses to date, but to make our case as compelling as possible, we need even more examples. If you are having problems with AD&C lending, please fill out the online questionnaire at NAHB.org/adccasestudy. And if you know another member who is experiencing difficulties, please ask them to complete the questionnaire.
The effort to develop case studies is just part of NAHB's strategy on AD&C lending. It also calls for developing new coalition partners, continuing meetings with bank regulators, activating NAHB's strong grassroots network to increase congressional outreach, and expanding awareness of the importance of housing’s role in the economy.
For more information about this effort, please contact John Dimitri at 800-368-5242, ext. 8529.
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There was encouraging news on home prices
in the February S&P Case-Shiller report which tracks home prices in 20 large metro markets and compares prices on a year-to-year basis. For the first time in 25 months, the 20-market index did not post a record annual decline. The data showed that house prices in some of the nation's largest markets, which are home to more than 40 percent of the U.S. population, recorded an annual decline of 18.6 percent. This is a slight improvement from January when the composite was down 19 percent.
While it is still too early to make a definite assessment, this is one more encouraging sign of a potential bottom to the housing market downturn. On a national basis, we believe that the housing recession is nearing an end and that there will be a very slow recovery. However, it's important to remember that all markets are local and the downturn varies significantly from one market to the next.
In other encouraging news, consumer confidence rose in April, according to the Conference Board which measures confidence each month. The index increased from an upwardly revised 26.9 in March to 39.2 in April. It was the highest level since November of last year, and is another indication that the economy may be strengthening. Contact: Dave Crowe, ext. 8383.
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A step back into bureaucratic red tape ...
That's what NAHB called a recent Administration decision that federal agencies are again required to consult with the Fish and Wildlife Service or the National Oceanic and Atmospheric Administration before they can move forward on projects that may affect endangered species. Moreover, it provides no net gain in protection for these species, we told reporters last week.
Back in December, NAHB applauded the Bush Administration's decision to remove the consultation process in more routine cases. The Government Accountability Office had found that the consultation process was so ineffective that the agencies missed up to 40 percent of their deadlines, delaying some projects for two years or more. Unlike that decision, which came after a public review and comment period, the decision last week was unilateral.
"The appropriate way to make significant changes to a federal regulation is to allow for notice and comment. Instead, the secretaries of Commerce and Interior were given the authority to unilaterally change the law. That's hardly an argument for consensus or transparency," said NAHB Chairman Joe Robson.
Joe went on to say that it isn't clear yet whether the new rule addresses the effects of global climate change in determining critical habitat for endangered species. NAHB has long contended that the Endangered Species act was never intended to address global warming. The Bush Administration agreed, and so far, the new Administration has not addressed that aspect of regulation. Contact: Larissa Mark, ext. 8157.
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We need your help in collecting case studies
of people who are using the $8,000 tax credit to purchase their first home so we can show members of Congress that the tax credit is working.
If you know of someone who purchased a home with the credit or will be closing soon on a home purchase, please e-mail Blake Smith or call him at 800-368-5242, ext. 8583. You can also direct buyers to our online questionnaire at www.nahb.org/taxcreditstory. And don't forget to tell people to check out the information at our tax credit web site: www.FederalHousingTaxCredit.com. There have been more than two million visits to the site since February when the legislation was enacted. Contact: Blake Smith, ext. 8583.
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Don't forget that May is 'National Remodeling Month.'
And be sure to use the free promotional materials that NAHB is making available to our remodeler members, HBAs and local Remodelers' Councils. These materials, developed by the NAHB Remodelers, are available on the NAHB Web site at www.nahb.org/remodelingmonth. Note that you must be logged into our Web site with your username and password to view these free materials. Information now available includes easily customizable press releases, articles and plenty of marketing ideas to help promote remodeling throughout the month of May. The information also includes a step-by-step guide to lead remodelers and HBAs through a publicity campaign. You can also access a special toolkit on how to start a local remodelers council. Contact: Kelly Mack, x8451.
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An upcoming audio seminar on stimulus opportunities
for builders is being sponsored by the National Commercial Builders Council and The University of Housing. The May 14 seminar will focus on ways to find available projects; how the bidding process works for federal, state and local jobs and military construction; and opportunities in building military housing. Scheduled speakers include builders who have more than 20 years of experience with government contracts and an attorney who specializes in contract law. Seminar participants will learn about a variety of government construction projects listed in the stimulus package and what they need to know to bid on — and win — government contracts. After a panel discussion, questions from the audience will be answered. These questions should be submitted in advance, no later than COB Friday, May 8, to commercialbuilders@nahb.com.
"Stimulus Opportunities for Builders: Exploring Commercial Opportunities in the Stimulus Package" will begin at 2:00 p.m. ET on Thurs., May 14. There is a registration fee of $79. To sign up, visit www.nahb.org/stimulusopportunities. Contact: Kisha DeSandies, x8455.
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