• AD&C Credit Tightens
  
  A study produced by NAHB Economics shows AD&C credit has tightened since last year. A recent snapshot of builders and developers found that more than 80% of survey respondents have seen the availability of new credit for land acquisition and land development tighten in the beginning of this year compared to the second half of 2007. The survey also found that lenders have been making adjustments to existing loans and hurting businesses in several areas.
  
  First, for single-family construction loans, 34% of those polled said that lenders have ordered new appraisals. Of those who saw new appraisals ordered for their single-family building loans, 62% said they were asked to pay down part of the original loans and 49% were asked to put up additional assets as collateral.

A quarter of all respondents said that lenders required new appraisals on their multifamily construction loans. Of the 62% of survey respondents who had loans outstanding from a financial institution for land acquisition, 30% were asked to pay down part of their loans out of concern for declining land values. Of the 66% of respondents with outstanding loans for land development, 31% were asked to pay down part of their loans. 

View the full article in NBN.

For more information E-mail Gopal Ahluwalia, or call him at 800-368-5242 x8480.

• NAHB Ad Campaign Targets Depeleting Retirement Funds

NAHB has stepped up our advertising efforts in publications on and off Capitol Hill with the aim of bringing our messages front-and-center in the public forum and promoting the passage of much-needed housing stimulus legislation prior to the July 4 recess. The latest ad (at right) ran in the June 6-8 edition of USA Today. It's a call to action that focuses on the erosion of home equity that is depleting the retirement nest egg of many American families, to the tune of $426 billion last year alone. NAHB has been running other ads in inside-the-beltway publications, as well; to see all of the latest ad content, please visit www.nahb.org/congress. 

E-mail Jay Shackford or call him at 800-368-5242 x8406 for more information on NAHB's ad campaign.