The nation’s housing industry and the economy have just about seen the worst of the painful downturn that greatly intensified since last September’s turmoil in the financial markets, according to economists speaking on April 23 at NAHB's Construction Forecast Conference. 

Despite a continuation of rising unemployment well into next year, although at a slowing pace, housing in this year’s second half is expected to begin gradually leading the economy to higher ground.

“There’s a lot of skepticism out there. This is a very deep hole we’re in,” acknowledged NAHB Chief Economist David Crowe. But he said there are several reasons to believe that “the housing recession is nearing an end and housing will return on a very slow basis.”

Through it all NAHB has been actively working in to ensure that members are minimally impacted by the waves of the crisis. Those involved with the Concrete Home Building Council, a sub-council of the national association, know that NAHB has made great strides in a time of relentless turmoil.  

To that end, the Concrete Home Building Council wishes to provide you with some important information regarding the recently passed Federal Economic Stimulus.  These resources were compiled by various experts within NAHB for its members, further enhancing the value of being involved with the Concrete Home Building Council. 

 Housing Provisions Within Stimulus Bill

NAHB has identified a number of potential builder benefits within the recently passed "American Recovery and Reinvestment Act of 2009." Many of these provisions are ways builders or manufacturers can branch out to other business opportunities. Additionally, there are provisions that builders or manufacturers can market as incentives for consumers to buy. Review this comprehensive NAHB Staff Summary to learn about items within the stimulus package.

 You can review a number of resources NAHB has compiled on the Economic Stimulus by going to www.nahb.org/economicstimulus.

 First-Time Home Buyer Tax Credit

NAHB launched a newly-designed Web site that provides detailed information about the $8,000 tax credit for first-time home buyers that was a key measure in the sweeping economic stimulus legislation signed into by President Barack Obama.  The Web site is www.federalhousingtaxcredit.com. You can review this informative Web site to learn more about the credit, and are encouraged to share the Web site with builders and consumers to educate them about this tremendous benefit.

NAHB also hosted an in-depth teleconference on the tax credit.  You can listen to an audio replay of the teleconference online at www.nahb.org/teleconference.

 Economic Forecast

For general information about the economy and where it is poised to go from here, we wish to provide you with the latest housing economic forecast from NAHB Chief Economist David Crowe. You can review his latest presentation to learn more.

For more information or to contact us directly,
please visit www.nahb.org l ©2009, National Association of Home Builders