International Builders' Show Kicks off with Keynote from Former Walt Disney Company Leader Michael Eisner
WASHINGTON, Nov. 15--Legendary entertainment industry leader, Michael Eisner was announced today as the keynote speaker for the 2013 NAHB International Builders Show® (IBS), the housing industry's largest annual trade show and exhibition. The show, held Jan. 22-24 at the Las Vegas Convention Center will play host to professionals representing all facets of the housing industry from around the world. Eisner will address attendees on Jan. 22, during the IBS Opening Ceremonies.
"The Opening Ceremonies always provides an impressive lineup of speakers and entertainment, and this year is no exception," said NAHB Chairman Barry Rutenberg, a home builder from Gainesville, Fla. "We look forward to hearing the inspirational words of former Disney leader Michael Eisner, followed by a comedic performance of the Capitol Steps."
Eisner, who served as the Chairman and CEO of The Walt Disney Company for twenty-one years, is recognized for having revitalized and reinvented the company into a full spectrum entertainment enterprise. Under his leadership, the company began implementation of a continuing series of creative growth strategies that resulted in its annual revenues rising from $1.7 billion to more than $30 billion. Michael Eisner continues to be an entertainment innovator to this day. His investment company Tornante launched Vuguru, a studio producing original programming for the Internet, portable media devices and cell phones.
Drawing from his vast experience as both a Fortune 500 CEO and an entrepreneur, his remarks will motivate corporate innovation and teamwork.
Closing out the Opening Ceremonies will be a performance by famed political satire group, the Capitol Steps. Created in December 1981, the Steps began as a group of senate staffers who used the headlines of the day to create song parodies and skits that conveyed a special brand of satirical humor.
Since they began, the Capitol Steps have recorded more than 30 albums and have been featured on numerous major television networks. Although not all of the current members of the Steps are former Capitol Hill staffers, taken together the performers have worked in a total of eighteen Congressional offices, and represent 62 years of collective House and Senate staff experience.
The IBS Opening Ceremonies is open to all registered attendees. Doors open at 7:00 a.m. and limited general seating is available on a first come, first served basis.
The 2013 NAHB International Builders' Show is not open to the general public. Building industry professionals and their affiliates throughout the housing trades may register by visiting the show's Web Site at www.BuildersShow.com.
[EDITOR'S NOTE: Complimentary registration is available to credentialed members of the working press. Visit http://www.buildersshow.com/press for more information or to register.]
#####
ABOUT NAHB: The National Association of Home Builders is a Washington-based trade association representing more than 140,000 members involved in remodeling, home building, multifamily construction, property management, subcontracting, design, housing finance, building product manufacturing and other aspects of residential and light commercial construction. NAHB is affiliated with 800 state and local home builders associations around the country. NAHB's builder members will construct about 80 percent of the new housing units projected for this year.
Follow NAHB on Twitter at www.twitter.com/NAHBMedia.
Showing posts with label home builders. Show all posts
Showing posts with label home builders. Show all posts
Tuesday, November 20, 2012
Thursday, November 1, 2012
HOME BUILDERS HOUSING INDEX SHOWS SOLID THIRD QUARTER GAINS IN BUILDING AND REMODELING IN MICHIGAN
Kolt Communications, Inc
October 30, 2012 517-706-0001/517-410-7636
Home
Builders Housing Index Shows Solid Third Quarter Gains in Building and
Remodeling in Michigan
(Lansing ,
MI
“The
trend lines have been positive, so it is encouraging to see the outlook for
building continues to improve,” said Robert Filka, CEO of the Home Builders
Association of Michigan (HBAM), which conducts the monthly survey. “We’ve got a long way to go before we see
anything near normal historical production, but things are definitely headed in
the right direction.”
September 2012 June 2012 September 2011
Builders Index 52
38 31
Remodelers Index
50 40 45
The
Michigan Housing Index (MHI) is a quarterly summary of building and remodeling activity
compiled by HBAM. The survey asks
builders about the number of homes currently under construction and in the
planning stages. Builders are also asked
to evaluate their prospects for future customers. Totals are calculated in an index that is
reported quarterly to provide a tracking mechanism for the industry’s process.
The survey breaks down builder/remodeler sentiment into three categories:
- Less than 45 (pessimistic)
- 45-55 (cautious optimism)
- Above 55 (optimism)
“While
it is good to note that Michigan
Filka
also noted there remains much concern within the homebuilding industry over the
possibility that Congress and the President could begin overhauling the federal
tax code in 2013, which could threaten some of the most important tools that
encourage home ownership, including the ability for consumers to deduct
mortgage interest.
“We
must protect the mortgage interest deduction,” said Filka. We shouldn’t change
the rules on the one tax break that has been most important in creating a
stable middle class in America Michigan
citizens realize the dream of homeownership, but is essential to revitalizing Michigan Michigan
About
the MAHB Michigan
The Michigan
Housing Index combines results of a monthly survey of Michigan Michigan
Housing Index is intended to provide an accurate projection of the future
direction of the building and remodeling housing market in Michigan
About
the Michigan
The Home
Builders Association of Michigan
####
Thursday, October 18, 2012
Home Price Appreciation Helps Housing Move Forward on Road to Recovery
WASHINGTON, Oct. 18 - Sparked by rising home prices across much of the nation, the housing recovery is now under way, but fiscal uncertainties and other challenges could result in a bumpy ride in the coming months, according to economists participating in yesterday's National Association of Home Builders (NAHB) webinar on the construction and economic outlook.
"We're seeing a more robust housing sector than many other parts of the economy," said NAHB Chief Economist David Crowe. "One of the reasons is we have finally begun to see on a national scale that house prices are picking up again."
Crowe cited a number of other factors that are carrying the housing momentum forward. These include:
· Pent-up household formations
· Rising consumer confidence
· Increasing builder confidence in all three legs of the industry: remodeling, multifamily and single-family construction
· Growing rental demand
· More than 100 metros currently on the NAHB/First American Improving Markets Index
However, Crowe offered several cautionary factors that continue to put a drag on housing activity at this time - including builders who are experiencing difficulties in obtaining production credit, qualified buyers who are unable to obtain mortgage loans, inaccurate appraisals, seriously delinquent mortgages that are at least 90 days late or in foreclosure, and a limited inventory of developed lots in certain markets.
Other causes contributing to uncertainty in the marketplace include the looming "fiscal cliff" that will trigger mandatory budget cuts and tax increases at the beginning of next year, pending Dodd-Frank Act regulations that are making financial institutions hesitant to lend since they don't know how the new rules will affect them, tax reform, and the future role of Fannie Mae and Freddie Mac in the nation's housing finance system.
NAHB is forecasting a 21 percent increase in single-family starts this year to 528,000 units and a further 26 percent climb to 665,000 units in 2013.
Multifamily housing starts are expected to rise 26 percent this year to 224,000 units and 6 percent in 2013 to 238,000 units.
Optimistic Housing Outlook
Expressing a more bullish outlook on housing and economic growth, Mark Zandi, chief economist for Moody's Analytics, forecast that GDP growth will range in the 2 percent range this year and next and "double that growth closer to 4 percent in 2014 and 2015." At the same time, he expects job growth to go from two million per year to closer to 3 million in 2014 and 2015.
"A big part of this optimism is the housing market," said Zandi. "I expect 1.1 million total housing starts in 2013, 1.7 million to 1.8 million in 2014 and over 1.8 million in 2015."
Zandi noted a range of assumptions behind this rosy forecast, including the expectation that mortgage rates would remain very low, the availability of housing credit will improve as private mortgage lending begins to pick up, and the job market gains traction as policymakers work to resolve fiscal issues, which will ease market uncertainties.
Specifically, Zandi cited three critical fiscal policy concerns:
· The fiscal cliff. If policymakers do nothing, the combination of pending tax increases and spending cuts set to take effect in January could produce a fiscal drag of four percentage points, Zandi said, which would throw the economy back into recession. "Hiring will remain weak until this is resolved," he said.
· Treasury debt ceiling. By late February or early March, the Treasury is expected to hit its debt ceiling. A failure to raise the ceiling would prevent the U.S. government to borrow to meet its existing legal obligations, including the issuance of monthly Social Security checks.
· Achieve fiscal sustainability. Zandi said that federal government expenditures as a percentage of GDP is 24 percent and revenues is 17 percent. He said this seven-point gap needs to be slashed to closer to two percentage points of GDP. "We need spending cuts and tax revenues to narrow future deficits," he said. "If we can't do that, bad things will happen."
Acknowledging that these challenges won't be easy, Zandi said his forecast is based on the assumption that Democrats and Republicans will eventually strike a deal on these contentious issues because each side has much to lose. Democrats, he said, don't want to see tax cuts for the wealthiest Americans and Republicans don't like the defense cuts mandated by sequestration.
If the nation has the "political will to address the fiscal issues in a reasonable way, I think we will be off and running," said Zandi.
A Gradual Climb to Normal
Delving into the state statistics behind the national numbers, Robert Denk, NAHB's assistant vice president for forecasting and analysis, cited a range of differences among the states in the amount of pain suffered during the recession and the progress that is being made in recovering.
The hardest hit states -- such as Arizona, Florida, California and Nevada -- bottomed out the furthest during the downturn and still have much ground to make up.
Meanwhile, several energy producing states - North Dakota, Texas, Oklahoma, Montana and Wyoming - will be back to normal levels of housing production by the end of 2014.
On a national basis, housing starts are projected to get back to 55 percent of normal production by the end of next year and 70 percent of normal by the end of 2014, Denk said.
#####
ABOUT NAHB: The National Association of Home Builders is a Washington-based trade association representing more than 140,000 members involved in remodeling, home building, multifamily construction, property management, subcontracting, design, housing finance, building product manufacturing and other aspects of residential and light commercial construction. NAHB is affiliated with 800 state and local home builders associations around the country. NAHB's builder members will construct about 80 percent of the new housing units projected for this year.
Follow NAHB on Twitter at www.twitter.com/NAHBMedia.
Tuesday, October 2, 2012
Voices of the "Next Generation"
Associations throughout the country, including the HBAGTA are surveying the "Next Generation" to find out how we can best serve them in the years to come. If you were born after 1965 and work for any company in the Home Building or Remodeling Industry, please take the time to complete this survey: "Your Future In The Home Building & Remodeling Industry".
At least 20 (twenty) respondents who complete BOTH sections of the survey will be eligible to win a $100 gift card!
If you have any questions regarding your qualifications to take the survey or if you would like more information, contact Kathy Maisonville, Executive Officer of the Home Builders Association of the Grand Traverse Area at 231.946.2305 or kathy@hbagta.com.
CLICK BELOW TO ACCESS THE SURVEY:
Your Future In The Home Building & Remodeling Industry
At least 20 (twenty) respondents who complete BOTH sections of the survey will be eligible to win a $100 gift card!
If you have any questions regarding your qualifications to take the survey or if you would like more information, contact Kathy Maisonville, Executive Officer of the Home Builders Association of the Grand Traverse Area at 231.946.2305 or kathy@hbagta.com.
CLICK BELOW TO ACCESS THE SURVEY:
Your Future In The Home Building & Remodeling Industry
Thursday, May 17, 2012
New Website Helps Protect Homeownership
America’s
home owners and home builders celebrate National Homeownership Month in June,
bringing attention to the more than 75 million Americans who own their homes,
and the millions more who aspire to achieve the American dream of
homeownership. But it is also important for American families to know that homeownership
is under attack. Legislative and regulatory proposals now under
consideration by government policymakers would greatly harm home owners,
home buyers, the housing market and the nation's economy.
To educate Americans about the
threats to homeownership and to provide opportunities for current and future
home owners to take action to protect it, the National Association of Home Builders (NAHB) has launched a
website, www.ProtectHomeownership.com.
The site features expert economic
analysis and reports, data from homeownership surveys and polls, and the
answers to many frequently asked questions about housing and homeownership.
ProtectHomesownership.com highlights the threats to homeownership by describing
how tax, legislative and regulatory policies currently under consideration
would scale back or eliminate the mortgage interest deduction and make
mortgages and small business loans unaffordable and difficult to obtain. It
tells how finance and credit-related issues are making it difficult for
creditworthy, financially responsible families to buy a home and threaten to
ultimately prevent millions of families from ever becoming home owners.
The site documents homeownership's importance to individual
households and to local, state and national economies. It shows how new
home construction and remodeling presently account for about 15 percent of the
nation's total economy, and how the financial issues are impeding production of
new homes. The economic impact of home building includes construction of
single-family and multifamily homes, remodeling and the countless products and
services that are related to those activities.
Protecthomeownership.com also empowers the American public to take
positive action to support and protect this very important aspect of American
life. Visitors are encouraged to sign an online petition urging Congress to
keep housing a national priority, and to join social media communities on
Facebook.com/ProtectHomeownership and Twitter.com/4Homeownership.
Information is provided about how to participate in Homeownership Rallies that are being held in a number of communities in 2012. The first rally, inColumbia , S.C.
Information is provided about how to participate in Homeownership Rallies that are being held in a number of communities in 2012. The first rally, in
For more information on the impact
of housing and homeownership, go to www.hbagta.com or www.ProtectHomeownership.com.
Tuesday, May 8, 2012
Builders Urge Congress to Improve Lacey Act to Protect Consumers, Businesses
Builders Urge Congress to Improve Lacey Act to Protect Consumers, Businesses
WASHINGTON, May 8 - The National Association of Home Builders (NAHB) today called on Congress to amend the Lacey Act so that individuals and businesses that unknowingly purchase illegal wood products from overseas do not have their property seized and are not exposed to civil and criminal liability.
Testifying before the House Natural Resources Subcommittee on Fisheries, Wildlife, Oceans and Insular Affairs, Barry Rutenberg, chairman of NAHB and a home builder from Gainesville, Fla., said that NAHB supports the goals of the Lacey Act and the prevention of trade in illegally harvested plant and wood products.
"Unequivocally, we do not support illegal logging in any place at any time," he said. "However, honest business owners, including home builders who exercise due care and had no knowledge that a seized product contains illegal wood, should have the right to seek the return of those goods."
Under the current statute, innocent companies are left without legal standing to challenge a government taking in court. As a result, both builders and consumers who buy products that encompass the entire supply chain dealing with imported wood products (lumber, cabinets, guitars, etc.) are held personally liable to certify that the timber product did not come from plant material that was taken, transported, possessed or sold in violation of any foreign law.
"Builders have no way of knowing the origin of a particular piece of lumber, a component of a cabinet, a closet door or crown molding," said Rutenberg. "The sheer number of different sources of wood that could be included in the finished home makes it nearly impossible for a builder or remodeler to know with certainty where and under what circumstances the individual components were sourced."
With this in mind, NAHB is urging Congress to amend the Lacey Act to include reaffirmation of civil forfeiture law so that innocent consumers and businesses would have the opportunity to seek the return of their property in court if it was seized as a result of any enforcement actions under the Lacey Act.
NAHB also commends Rep. Jim Cooper (D-Tenn.) for his efforts to propose much needed reforms to the Lacey Act while at the same time seeking to improve and protect the integrity of the law.
H.R. 3210, the Retailers and Entertainers Lacey Implementation and Enforcement Fairness Act, or "Relief Act," recognizes the essential need to hold harmless those who unknowingly and without any culpability, are found to be in possession of products that run afoul of the Lacey Act.
"H.R. 3210 represents an important first step and we look forward to working with Rep. Cooper to improve the bill as it moves through the legislative process," said Rutenberg.
WASHINGTON, May 8 - The National Association of Home Builders (NAHB) today called on Congress to amend the Lacey Act so that individuals and businesses that unknowingly purchase illegal wood products from overseas do not have their property seized and are not exposed to civil and criminal liability.
Testifying before the House Natural Resources Subcommittee on Fisheries, Wildlife, Oceans and Insular Affairs, Barry Rutenberg, chairman of NAHB and a home builder from Gainesville, Fla., said that NAHB supports the goals of the Lacey Act and the prevention of trade in illegally harvested plant and wood products.
"Unequivocally, we do not support illegal logging in any place at any time," he said. "However, honest business owners, including home builders who exercise due care and had no knowledge that a seized product contains illegal wood, should have the right to seek the return of those goods."
Under the current statute, innocent companies are left without legal standing to challenge a government taking in court. As a result, both builders and consumers who buy products that encompass the entire supply chain dealing with imported wood products (lumber, cabinets, guitars, etc.) are held personally liable to certify that the timber product did not come from plant material that was taken, transported, possessed or sold in violation of any foreign law.
"Builders have no way of knowing the origin of a particular piece of lumber, a component of a cabinet, a closet door or crown molding," said Rutenberg. "The sheer number of different sources of wood that could be included in the finished home makes it nearly impossible for a builder or remodeler to know with certainty where and under what circumstances the individual components were sourced."
With this in mind, NAHB is urging Congress to amend the Lacey Act to include reaffirmation of civil forfeiture law so that innocent consumers and businesses would have the opportunity to seek the return of their property in court if it was seized as a result of any enforcement actions under the Lacey Act.
NAHB also commends Rep. Jim Cooper (D-Tenn.) for his efforts to propose much needed reforms to the Lacey Act while at the same time seeking to improve and protect the integrity of the law.
H.R. 3210, the Retailers and Entertainers Lacey Implementation and Enforcement Fairness Act, or "Relief Act," recognizes the essential need to hold harmless those who unknowingly and without any culpability, are found to be in possession of products that run afoul of the Lacey Act.
"H.R. 3210 represents an important first step and we look forward to working with Rep. Cooper to improve the bill as it moves through the legislative process," said Rutenberg.
Tuesday, April 17, 2012
Find HBAGTA Members on Facebook!
Visit the following members who have a business Facebook page and "LIKE" their page! Lets support our local businesses! Just go to www.facebook.com and put the business name in the search field.
| American Waste, Inc |
| Ankerson Construction |
| Architectural Elements of Michigan |
| Blarney Castle Oil & Propane |
| Brown Lumber & Supply Company |
| Burkholder Construction Company |
| Castles & Cabins, Inc |
| Chemical Bank |
| Cherryland Electric Cooperative |
| D T E Energy / MichCon |
| Dan Brady Painting Services, LLC |
| E Z Able, LLC |
| Elmers Crane & Dozer, Inc |
| Fireside, LLC |
| Floor Covering Brokers |
| GeoFurnace Heating & Cooling, LLC |
| Grand Bay Building & Remodeling, LLC |
| Harper Custom Homes |
| Hertler Construction and Restoration, Inc |
| K A Construction of Northern Michigan, LLC |
| Lake Michigan Credit Union |
| Lankford Design Group, Inc |
| Larkin Group |
| Lord and Lady Construction, LLC |
| MAC Custom Homes |
| Michigan Gutters, Inc |
| Morse Moving & Storage, Inc |
| New Leaf Interiors |
| Northwestern Michigan College |
| Northwood Paint & Supply |
| Old Mission Windows |
| Paul Davis Restoration and Remodeling of Northwest Michigan |
| Precision Plumbing and Heating Systems, Inc |
| Progress Printers, Inc |
| Rainbow Seamless Rain Gutters, Inc |
| Shugart Builders, Inc |
| Signs Now |
| Springfield Commercial Roofing, Inc |
| T B A Credit Union |
| Team Bob's Heating, Cooling, Plumbing |
| The Concrete Service, Inc |
| Tilestone Imports |
| Traverse City Tops, Inc |
| Traverse, Northern Michigan's Magazine |
| Two Men and a Truck |
| Wilhelm Landscapes |
| Wright & Filippis, Inc |
Thursday, January 19, 2012
Wednesday, January 18, 2012
Builder Confidence Rises Fourth Consecutive Time in January
WASHINGTON, Jan. 18 - Builder confidence in the market for newly built, single-family homes continued to climb for a fourth consecutive month in January, rising four points to 25 on the NAHB/Wells Fargo Housing Market Index (HMI), released today. This is the highest level the index has attained since June of 2007.
"Builder confidence has now risen four months in a row, with the latest uptick being universally represented across every index component and region," noted Bob Nielsen, chairman of the National Association of Home Builders (NAHB) and a home builder from Reno, Nev. "This good news comes on the heels of several months of gains in single-family housing starts and sales, and is yet another indication of the gradual but steady improvement that is beginning to take hold in an increasing number of housing markets nationwide -- and that has been shown by our Improving Markets Index. Policymakers must now take every precaution to avoid derailing this nascent recovery."
"Builders are seeing greater interest among potential buyers as employment and consumer confidence slowly improve in a growing number of markets, and this has helped to move the confidence gauge up from near-historic lows in the first half of 2011," noted NAHB Chief Economist David Crowe. "That said, caution remains the word of the day as many builders continue to voice concerns about potential clients being unable to qualify for an affordable mortgage, appraisals coming through below construction cost, and the continuing flow of foreclosed properties hitting the market."
Derived from a monthly survey that NAHB has been conducting for more than 20 years, the NAHB/Wells Fargo Housing Market Index gauges builder perceptions of current single-family home sales and sales expectations for the next six months as "good," "fair" or "poor." The survey also asks builders to rate traffic of prospective buyers as "high to very high," "average" or "low to very low." Scores from each component are then used to calculate a seasonally adjusted index where any number over 50 indicates that more builders view conditions as good than poor.
Each of the HMI's three component indexes registered a fourth consecutive month of improvement in January. The component gauging current sales conditions rose three points to 25, which was its highest point since June of 2007. The component gauging sales expectations in the next six months also rose three points, to 29 -- its highest point since September 2009. And the component gauging traffic of prospective buyers rose three points to 21, its highest point since June of 2007.
The HMI also posted gains in all four regions in January, including a nine-point gain to 23 in the Northeast, a one-point gain to 24 in the Midwest, a two-point gain to 27 in the South and a five-point gain to 21 in the West.
Editor's Note: The NAHB/Wells Fargo Housing Market Index is strictly the product of NAHB Economics, and is not seen or influenced by any outside party prior to being released to the public. HMI tables can be found at www.nahb.org/hmi. More information on housing statistics is also available at http://www.housingeconomics.com.
Wednesday, December 7, 2011
Media Advisory: IBS Attendees Invited to Special Session With Fed Chairman Ben Bernanke
December 7, 2011 -
WHAT:
Attendees of the 2012 International Builders Show (IBS) will have the exclusive opportunity to hear Federal Reserve Chairman Ben Bernanke deliver remarks during a special session at the National Association of Home Builders' (NAHB) board of directors meeting on Friday, February 10 at 12:30 pm.
The event, held in the Valencia Ballroom of the Orange County Convention Center, will have limited general seating available on a first-come, first-served basis.
WHEN:
Friday, Feb. 10, 2012
12:30 p.m. ET
WHERE:
Orange County Convention Center
Valencia Ballroom
Orlando, Fla.
TO ATTEND:
The special session with Chairman Bernanke is open to all registered attendees of the 2012 International Builders Show; however seating is limited and available on a first-come, first-served basis. To register for IBS, please visit www.BuildersShow.com/Register.
[EDITOR'S NOTE: For information on complimentary press registration, please visit www.BuildersShow.com/Press. Please contact Liz Thompson at (202) 266-8495, ethompson@nahb.org or Paul Lopez at (202) 266-8409, plopez@nahb.org with any questions.]
WHAT:
Attendees of the 2012 International Builders Show (IBS) will have the exclusive opportunity to hear Federal Reserve Chairman Ben Bernanke deliver remarks during a special session at the National Association of Home Builders' (NAHB) board of directors meeting on Friday, February 10 at 12:30 pm.
The event, held in the Valencia Ballroom of the Orange County Convention Center, will have limited general seating available on a first-come, first-served basis.
WHEN:
Friday, Feb. 10, 2012
12:30 p.m. ET
WHERE:
Orange County Convention Center
Valencia Ballroom
Orlando, Fla.
TO ATTEND:
The special session with Chairman Bernanke is open to all registered attendees of the 2012 International Builders Show; however seating is limited and available on a first-come, first-served basis. To register for IBS, please visit www.BuildersShow.com/Register.
[EDITOR'S NOTE: For information on complimentary press registration, please visit www.BuildersShow.com/Press. Please contact Liz Thompson at (202) 266-8495, ethompson@nahb.org or Paul Lopez at (202) 266-8409, plopez@nahb.org with any questions.]
Persistent Tight Lending Conditions for Home Builders Threaten Economic Recovery
WASHINGTON, Dec. 6 -- The commercial banks on which home builders and developers largely rely to finance their projects continued in this year's third quarter to hold tight reins on acquisition, development and construction loans (AD&C), according to the most recent quarterly survey by NAHB's Economics and Housing Policy Group on the availability of credit to the housing industry.
"Restoring the flow of credit to housing is critical for the industry to rebound, provide jobs and boost the economy," said NAHB Chairman Bob Nielsen, a home builder from Reno, Nev.
More than half of the single-family builders and developers surveyed by NAHB indicated they had decided to put any new construction or land activity on hold until the financing climate improves.
This has broad repercussions for housing and the economy. With inventories of new homes nearly depleted in many markets, builders should be gearing up to meet demand, create new jobs and keep the expansion moving forward. Unfortunately, production remains stymied because builders in these locations cannot get credit from lending institutions to begin work on new homes.
In normal times, housing accounts for more than 17 percent of the nation's gross domestic product. Constructing 100 new-homes generates more than 300 full-time jobs and $8.9 million in local, state and federal tax revenue that supports local schools and communities across the land.
"There can be no economic recovery without a housing recovery," said Nielsen. "While NAHB's Improving Market Index shows several housing markets around the nation are slowly starting to mend, a full-fledged revival will not take hold until we resolve the ongoing credit problems for home builders."
NAHB has been working to obtain a legislative solution on Capitol Hill.
On May 5, Reps. Gary Miller (R-Calif.) and Brad Miller (D-N.C.) introduced H.R. 1755, the Home Construction Lending Regulatory Improvement Act of 2011, to address specific regulatory impediments to the flow of credit needed by home builders. That measure currently has 80 cosponsors, and NAHB is seeking a companion bill in the Senate.
Of the minority of builders who sought AD&C loans in the third quarter, few saw improvement in the lending climate over the previous quarter and a significant share saw conditions continue to deteriorate.
Forty-eight percent of those polled said they had looked for financing for single-family construction in the third quarter.
Only 8 percent said the availability of financing for single-family projects was getting better (compared to the previous quarter), 61 percent said it was unchanged and 31 percent reported it had worsened.
Survey respondents who indicated that lenders were clamping down further on credit availability in the third quarter noted several ways in which the tightening was occurring:
· 77 percent said lenders were reducing the amount they were willing to lend.
· 75 percent reported seeing the allowable loan-to-value ratio being lowered.
· 66 percent found lenders who were not making any new real estate loans.
· 63 percent said they encountered lenders who were requiring personal guarantees or collateral not related to the project.
Lenders most often told builders they were tightening on loans because the regulators were forcing them to do so.
Sixty-eight percent of those surveyed said they were given this reason for restrictions on new AD&C loans and 52 percent heard it was the reason for tightening on outstanding loans.
"Restoring the flow of credit to housing is critical for the industry to rebound, provide jobs and boost the economy," said NAHB Chairman Bob Nielsen, a home builder from Reno, Nev.
More than half of the single-family builders and developers surveyed by NAHB indicated they had decided to put any new construction or land activity on hold until the financing climate improves.
This has broad repercussions for housing and the economy. With inventories of new homes nearly depleted in many markets, builders should be gearing up to meet demand, create new jobs and keep the expansion moving forward. Unfortunately, production remains stymied because builders in these locations cannot get credit from lending institutions to begin work on new homes.
In normal times, housing accounts for more than 17 percent of the nation's gross domestic product. Constructing 100 new-homes generates more than 300 full-time jobs and $8.9 million in local, state and federal tax revenue that supports local schools and communities across the land.
"There can be no economic recovery without a housing recovery," said Nielsen. "While NAHB's Improving Market Index shows several housing markets around the nation are slowly starting to mend, a full-fledged revival will not take hold until we resolve the ongoing credit problems for home builders."
NAHB has been working to obtain a legislative solution on Capitol Hill.
On May 5, Reps. Gary Miller (R-Calif.) and Brad Miller (D-N.C.) introduced H.R. 1755, the Home Construction Lending Regulatory Improvement Act of 2011, to address specific regulatory impediments to the flow of credit needed by home builders. That measure currently has 80 cosponsors, and NAHB is seeking a companion bill in the Senate.
Of the minority of builders who sought AD&C loans in the third quarter, few saw improvement in the lending climate over the previous quarter and a significant share saw conditions continue to deteriorate.
Forty-eight percent of those polled said they had looked for financing for single-family construction in the third quarter.
Only 8 percent said the availability of financing for single-family projects was getting better (compared to the previous quarter), 61 percent said it was unchanged and 31 percent reported it had worsened.
Survey respondents who indicated that lenders were clamping down further on credit availability in the third quarter noted several ways in which the tightening was occurring:
· 77 percent said lenders were reducing the amount they were willing to lend.
· 75 percent reported seeing the allowable loan-to-value ratio being lowered.
· 66 percent found lenders who were not making any new real estate loans.
· 63 percent said they encountered lenders who were requiring personal guarantees or collateral not related to the project.
Lenders most often told builders they were tightening on loans because the regulators were forcing them to do so.
Sixty-eight percent of those surveyed said they were given this reason for restrictions on new AD&C loans and 52 percent heard it was the reason for tightening on outstanding loans.
Wednesday, November 23, 2011
New Homes of the Future: Smaller, Greener and More Casual
The economic downturn has changed the way Americans look at a lot of things, including what they are looking for in their next home. A study by the National Association of Home Builders suggests that the recession has caused prospective home buyers to shift their perspective on the housing they want and need, and that the new home of the future will focus more on efficiency than indulgence.
The survey asked builders, designers, architects, manufacturers, and marketing specialists about what they thought the likely characteristics of the average, new single-family detached home would be in 2015.
First, the typical size of new homes will continue to shrink, with respondents saying they expect homes to average 2,152 square feet. That is 10 percent smaller than the average size of single-family homes started in 2010. Census Bureau data shows that the average size peaked in 2007, at 2,521 square feet.
This decrease is likely influenced by economic hardship, with consumers focusing on lowering the cost of heating and cooling their homes as well as no longer having a lot of equity in their current homes to finance purchasing a much larger one. An aging population — 29 percent of the U.S. population will be 55 and older in the year 2020 — will also increase demand for smaller homes as empty-nesters downsize into easier-to-manage properties.
A smaller home means the space must be better suited to modern lifestyles. Fifty-two percent of builders expect the living room to be merged with other spaces in the home by 2015 and 30 percent said it will vanish entirely. Respondents also expect the entry foyer and dining rooms to become smaller, or merge with other spaces. A great room comprised of the kitchen, foyer and living room is the most likely room to be included in the average new home. Some of the rooms least likely to be present include two master bedroom suites, a sunroom, a hobbies room, and a media room.
Kitchens are also expected to become more functional. Double sinks, recessed lighting, table space for eating, a breakfast bar and pull-out drawers are the features most likely to be in the new home kitchen in 2015.
In addition to floor plan changes, it is expected that new homes in 2015 will include more green features and technology, including low-E windows; engineered wood beams, joists or tresses; water-efficient features such as dual-flush toilets or low-flow faucets; and an ENERGY STAR rating for the whole house.
Surprisingly, some new home features that have been popular in recent years are expected to lose favor with home buyers in the future. Less than a third of survey respondents said they thought more technology features, more universal features and more outdoor living features would be the first or second most probable trend.
To find out about trends in new homes in the Grand Traverse area, contact the Home Builders Association of the Grand Traverse Area at 231.946.2305 or visit their web site at www.hbagta.com .
New Exhibits, Latest Education Tracks To Be Unveiled At International Builders' Show
WASHINGTON, Nov. 21 - Excitement is building for the National Association of Home Builders' 2012 International Builders' Show (IBS) Feb. 8-11 as planners report pre-registration figures up nearly a quarter over this time last year and dozens of exhibitors have snapped up remaining booths in the last two weeks.
The Orange County Convention Center in Orlando, Fla., will be packed with IBS events featuring expert speakers, opportunities for networking and entertainment, nearly 175 outstanding education sessions, home tours and more than 700 exhibitors with the products and services that make it the largest light commercial construction show in the world.
Home builders, remodelers, designers, architects and developers will fill the classrooms and trade show floor to learn about and examine the latest energy-efficient appliances and insulation products, technical improvement and innovation in roofing, decking and other building supplies, new design trends for the kitchen, bath and outdoor living areas--and everything in between.
"I do about 10 shows a year, but if you said to me I could only do one, it would be this one," said Brian Stowell, president of Crown Point Cabinetry in Claremont, N.H. The company is exhibiting at the International Builders' Show for the third year in a row. In a still struggling housing market, "unless you are there, you are not going to be in front of the people who are doing the jobs," he said.
They will also gain a better understanding of the country's economic outlook at a special presentation by Federal Reserve Chair Ben Bernanke open to all credentialed attendees on Feb. 10.
Thirteen tracks of education--from "Remodeling" and "Green Building and Sustainability" to "Business Opportunities and New Markets"--offer a wealth of information to professionals in all segments of the industry. Sessions detail tools for innovative project financing in a tough lending market, social media tactics specific to new home buyers and other effective marketing tactics, advanced framing techniques, consumer preference surveys for the 50+ buyer--and more.
"Outstanding networking opportunities, special displays and product information for niche markets such as universal design and custom building, and the signature educational events that only NAHB can provide--each of those is reason enough to make plans to attend the International Builders' Show," said NAHB Chairman Bob Nielsen, a home builder from Reno, Nev.
Highlights of the opening ceremonies include appearances by hiker Aron Ralston, who survived a harrowing trip through a remote Utah canyon that is retold in the movie 127 Hours, and magicians Penn & Teller.
"I encourage all my home building industry colleagues to visit the Show website at www.buildersshow.com for registration information and a preview of the many activities and events we have planned--and I hope to see you at the International Builders' Show," he said.
Wednesday, November 16, 2011
WASHINGTON, Nov. 16 - Builder confidence in the market for newly built, single-family homes rose by three points to 20 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) for November, released today. The gain builds on a revised three-point increase in October, and brings the confidence gauge to its highest level since May of 2010.
"While this second solid monthly gain on the builder confidence scale is encouraging, the overall measure remains quite low due to the many challenges that home building continues to face with regard to the high number of foreclosures, the difficulties of obtaining construction financing and accurate appraisals, and the restrictive lending environment that is discouraging potential buyers," said Bob Nielsen, NAHB Chairman and a home builder from Reno, Nev. "These problems must be addressed so that housing can contribute to economic and job growth the way it has in the past."
"This second consecutive gain in the HMI is evidence that well-qualified buyers in select areas are being tempted back into the market by today's extremely favorable mortgage rates and prices," said NAHB Chief Economist David Crowe. "We are anticipating further, gradual gains in the builder confidence gauge heading into 2012 due to these pockets of improving conditions that are slowly spreading."
Derived from a monthly survey that NAHB has been conducting for more than 20 years, the NAHB/Wells Fargo Housing Market Index gauges builder perceptions of current single-family home sales and sales expectations for the next six months as "good," "fair" or "poor." The survey also asks builders to rate traffic of prospective buyers as "high to very high," "average" or "low to very low." Scores from each component are then used to calculate a seasonally adjusted index where any number over 50 indicates that more builders view conditions as good than poor.
Each of the HMI's three component indexes continued to build on gains registered in the previous month in November. The component gauging current sales conditions rose three points to 20 - its highest level since May 2010 - while the component gauging future sales expectations rose two points to 25 - its highest level since March of 2011. The component gauging traffic of prospective buyers rose one point to 15, which was its highest point since May of 2010.
The HMI rose in three out of four regions in November, with a three-point gain to 17 registered in the Northeast, an eight-point gain to 23 registered in the Midwest, and a two-point gain to 21 registered in the South. After posting a big increase in October, the West returned to trend this month with a six-point decline to 15.
Editor's Note: The NAHB/Wells Fargo Housing Market Index is strictly the product of NAHB Economics, and is not seen or influenced by any outside party prior to being released to the public. HMI tables can be found at www.nahb.org/hmi. More information on housing statistics is also available at www.housingeconomics.com.
"While this second solid monthly gain on the builder confidence scale is encouraging, the overall measure remains quite low due to the many challenges that home building continues to face with regard to the high number of foreclosures, the difficulties of obtaining construction financing and accurate appraisals, and the restrictive lending environment that is discouraging potential buyers," said Bob Nielsen, NAHB Chairman and a home builder from Reno, Nev. "These problems must be addressed so that housing can contribute to economic and job growth the way it has in the past."
"This second consecutive gain in the HMI is evidence that well-qualified buyers in select areas are being tempted back into the market by today's extremely favorable mortgage rates and prices," said NAHB Chief Economist David Crowe. "We are anticipating further, gradual gains in the builder confidence gauge heading into 2012 due to these pockets of improving conditions that are slowly spreading."
Derived from a monthly survey that NAHB has been conducting for more than 20 years, the NAHB/Wells Fargo Housing Market Index gauges builder perceptions of current single-family home sales and sales expectations for the next six months as "good," "fair" or "poor." The survey also asks builders to rate traffic of prospective buyers as "high to very high," "average" or "low to very low." Scores from each component are then used to calculate a seasonally adjusted index where any number over 50 indicates that more builders view conditions as good than poor.
Each of the HMI's three component indexes continued to build on gains registered in the previous month in November. The component gauging current sales conditions rose three points to 20 - its highest level since May 2010 - while the component gauging future sales expectations rose two points to 25 - its highest level since March of 2011. The component gauging traffic of prospective buyers rose one point to 15, which was its highest point since May of 2010.
The HMI rose in three out of four regions in November, with a three-point gain to 17 registered in the Northeast, an eight-point gain to 23 registered in the Midwest, and a two-point gain to 21 registered in the South. After posting a big increase in October, the West returned to trend this month with a six-point decline to 15.
Editor's Note: The NAHB/Wells Fargo Housing Market Index is strictly the product of NAHB Economics, and is not seen or influenced by any outside party prior to being released to the public. HMI tables can be found at www.nahb.org/hmi. More information on housing statistics is also available at www.housingeconomics.com.
Tuesday, October 4, 2011
Builders Urge Caution on National Ocean Policy
WASHINGTON, Oct. 4 - The National Association of Home Builders (NAHB) today urged Congress to proceed with caution and conduct a cost-benefit analysis before implementing any new regulations or requirements that call for the federal government to develop a National Ocean Policy, which the Administration is now contemplating.
Testifying before the House Natural Resources Committee, NAHB Chairman-elect Barry Rutenberg, a home builder from Gainesville, Fla., said that utilizing environmentally friendly building techniques, NAHB members regularly take steps to improve the long-term conservation and care of the nation's coastal and Great Lakes communities.
"The nation's home builders recognize the need to preserve the health of the marine ecosystem as it is one of the many lifelines upon which we as a nation depend," he said. "However, NAHB is concerned that federal agencies will enact regulations that will only have a minor impact on the environment but impose a significant cost on private landowners and businesses. Such an outcome is unacceptable and completely contrary to this Administration's pledge to make regulations more effective and less burdensome."
A common-sense regulatory structure that continues to allow state and local governments to plan for and determine appropriate uses for their entire communities, including residential development, is important to maintain housing choice for consumers, create jobs in local communities and generate revenues for all levels of government.
NAHB analysis of the broad impact of new construction shows that building 100 average single-family homes generates 305 full-time jobs and increases the property tax base that supports local schools.
As one of the most highly regulated industries, Rutenberg said, home builders already comply with numerous federal, state and local environmental statutes. For example, home builders must abide by the Federal Emergency Management Agency's National Flood Insurance Program when siting, designing and constructing their homes; meet the mandates of the Clean Water Act for controlling storm water discharges; demonstrate that their activities are consistent with their state's coastal zone management plan; and meet the requirements for their local zoning, critical areas or shoreland protection ordinances.
"Clearly, governments at all levels have already taken significant steps to protect coastal areas," said Rutenberg. "Any potential government policies that will broadly shape the future of our communities must be based on solid research and sound science and data and allow for choices and flexibility in the marketplace."
Since its scope is currently undefined and also references coastal areas, the proposed National Ocean Policy has the potential to link land-based activities to the health of the ocean.
"NAHB has significant concerns about the potential for the federal government to overstep its bounds with regard to land use planning, a practice that allows home buyers and home owners the opportunity to live in a home of their choice in a location of their choice," said Rutenberg.
"Past experience suggests that caution must be taken to ensure that local governments are free to direct their community growth without any federal interference or coercion."
Given the number of existing policies specifically designed to protect the nation's oceans, coastlines and watersheds; efforts already taken at the federal, state and local levels; and the need to preserve the rights of local governments, Rutenberg told lawmakers that NAHB questions the need for an additional layer of regulation that could impede the housing and economic recovery.
Testifying before the House Natural Resources Committee, NAHB Chairman-elect Barry Rutenberg, a home builder from Gainesville, Fla., said that utilizing environmentally friendly building techniques, NAHB members regularly take steps to improve the long-term conservation and care of the nation's coastal and Great Lakes communities.
"The nation's home builders recognize the need to preserve the health of the marine ecosystem as it is one of the many lifelines upon which we as a nation depend," he said. "However, NAHB is concerned that federal agencies will enact regulations that will only have a minor impact on the environment but impose a significant cost on private landowners and businesses. Such an outcome is unacceptable and completely contrary to this Administration's pledge to make regulations more effective and less burdensome."
A common-sense regulatory structure that continues to allow state and local governments to plan for and determine appropriate uses for their entire communities, including residential development, is important to maintain housing choice for consumers, create jobs in local communities and generate revenues for all levels of government.
NAHB analysis of the broad impact of new construction shows that building 100 average single-family homes generates 305 full-time jobs and increases the property tax base that supports local schools.
As one of the most highly regulated industries, Rutenberg said, home builders already comply with numerous federal, state and local environmental statutes. For example, home builders must abide by the Federal Emergency Management Agency's National Flood Insurance Program when siting, designing and constructing their homes; meet the mandates of the Clean Water Act for controlling storm water discharges; demonstrate that their activities are consistent with their state's coastal zone management plan; and meet the requirements for their local zoning, critical areas or shoreland protection ordinances.
"Clearly, governments at all levels have already taken significant steps to protect coastal areas," said Rutenberg. "Any potential government policies that will broadly shape the future of our communities must be based on solid research and sound science and data and allow for choices and flexibility in the marketplace."
Since its scope is currently undefined and also references coastal areas, the proposed National Ocean Policy has the potential to link land-based activities to the health of the ocean.
"NAHB has significant concerns about the potential for the federal government to overstep its bounds with regard to land use planning, a practice that allows home buyers and home owners the opportunity to live in a home of their choice in a location of their choice," said Rutenberg.
"Past experience suggests that caution must be taken to ensure that local governments are free to direct their community growth without any federal interference or coercion."
Given the number of existing policies specifically designed to protect the nation's oceans, coastlines and watersheds; efforts already taken at the federal, state and local levels; and the need to preserve the rights of local governments, Rutenberg told lawmakers that NAHB questions the need for an additional layer of regulation that could impede the housing and economic recovery.
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