Condominiums in Carmel Win Pillars Award There aren’t many places where a builder can put 20 homes and a hotel on a half-acre of land in a single-family residential neighborhood and sell each home for between $1 million and $1.5 million.
Do you agree with economists who are predicting that housing construction this year will be as good as, or maybe even a little better, than last year?
NBN Online Is Taking Next Week Off
Nation's Building News Online will not be published next week, May 12, following NAHB's Spring Board of Directors meeting in Washington, D.C. Publication will resume on Monday, May 19.
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Housing Snapshot
With mortgage interest rates declining for the third straight week, almost touching the 40-year low they reached in March, housing remains a bright spot for the economy. On the darker side, the Commerce Department reported that manufacturers jettisoned 95,000 jobs in April and the nation's unemployment rate climbed to 6%. Federal Reserve Chairman Alan Greenspan told Congress that he is expecting economic growth to increase in the second half of the year, but it is still not entirely clear how much the business sector will do to make this happen.
