Building News
From Coast to Coast

n New 'Cities' Springing Up Around Many U.S. Airports

n The Luxury of Space

n Many Buying Second Home in Cities as Investment

n New Homes Aim for Neighborly Feel

n Homeownership More Attainable to More Families

n Universal Design Makes Living Easy

n Building Better Reputations

n Pampering Guests Is a Cottage Industry

How feasible is it in your area to build housing that is affordably priced for working men and women such as firefighters, police officers, teachers and nurses?

	It is still possible to build affordable housing in this area.
	There are opportunities to build affordably priced housing in some parts of this area.
	It is difficult to build affordably priced housing in this area.
	Don't know.

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There's Still Time to Win the Sears American Dream-Maker Award

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Hurricane Isabel Compounds Problem of Rising Prices for OSB and Plywood

Two major lumber companies have announced that they have taken steps to help ease the impact of Hurricane Isabel on oriented strand board (OSB) and other lumber products, but that alone has not kept prices from continuing to rise.

"We are experiencing a major price run-up in a fundamental building product," said NAHB President-elect Bobby Rayburn, "and one of our top missions is to work with the producers, the government and others to restore some balance to these prices before they take a major toll on housing affordability." …

Housing Snapshot

A second consecutive monthly increase in consumer spending in August suggests that the economy may be on the right track to a full-fledged, job-producing recovery. Spending was up 0.8%, following an increase of 0.9% in July, as consumers found more money in their paychecks thanks to the Bush Administration's generous tax cuts. With consumer spending accounting for two-thirds of the nation's economic activity, more crowded mall parking lots could be a harbinger of 4%-5% annual growth during this year's second half. Growth in the second quarter was adjusted upward from an annual rate of 3.1% to 3.3%. Last week was fairly dismal on Wall Street, with stock market levels at their lowest in about a month. A 6% loss on the Nasdaq was the biggest weekly decline in 17 months. The Dow's 3.4% decline was the sharpest in six months. New and existing home sales in August again produced some dazzling numbers and mortgage interest rates continued to nudge down, virtually ensuring that 2003 will go into the record books as another banner year for housing.

Mortgage Interest Rates
30-Year Fixed-Rate	5.98%
15-Year Fixed-Rate	5.30%
1-Year ARM	3.77%
Housing Starts - Aug. 2003*
Total	1.82 million
Single-Family Starts	1.48 million
Multifamily Starts	344,000
New Home Sales Aug. 2003*	1.15 million
Existing Home Sales Aug. 2003*	6.47 million
* Seasonally adjusted annual rate