Week of May 30, 2005
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The West Pediment of the U.S. Supreme Court under construction on Jan. 4, 1934.

High Court Upholds Tests for Takings Cases

In a victory for property rights, the U.S. Supreme Court on May 23 clarified the circumstances under which land owners are due just compensation from the government for a “taking” of their property as defined by the Fifth Amendment to the Constitution.

The unanimous affirmation of key property rights precedents came in the case of Lingle v. Chevron, U.S.A., the first of three takings cases the Supreme Court is expected to decide this term. Justice Sandra Day O’Connor wrote the opinion. ...

Framing Lumber Composite $ 404 $ 13
OSB Composite $ 378 $ 18
Southern Pine Plywood Composite $ 509 $ 16
With permission from: www.randomlengths.com 
 
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There have been three winners already — the most recent winner is Lee Hyslop, of Cedar Creek Homes in Rockford, Mich. — and you could be next.

To subscribe your employees to Nation’s Building News and be entered into the "Make Your Business Click" contest, visit our contest subscription page by clicking here

Subscribe your employees and they will begin receiving valuable industry and business news at their desktops beginning with the very next issue. ...

(Photo courtesy of USDA Natural Resources Conservation Service.)

Builders Make Three Wishes to Improve Wetlands Regulation

A Wetlands Wish List of reforms that would improve the wetlands permitting process for home builders and home buyers was released by NAHB last week to coincide with the 15th anniversary of American Wetlands Month, which has focused this year on the economic benefits of protecting wetlands.

“As stewards of much of the nation’s developable land, home builders have taken a lead role in protecting wetlands,” said NAHB President Dave Wilson. “It is important that federal legislative and regulatory bodies continue to work with landowners to protect wetlands sensibly and cost-effectively.” ...

Interest Rates  
  30-Yr. Fixed: 5.65% 15-Yr. Fixed: 5.21% 5 Yr. ARM: 5.07%
  1 Yr. ARM: 4.21% Libor (3 months): 3.34% Prime: 6.0%
Housing Starts*  (April 2005)
  Total: 2.038 million Single: 1.635 million Multi: 403,000
Home Sales*  (April 2005)
  New: 1.316 million Existing: 7.18 million  
Median Home Prices  (April 2005)
  New: $230,800 Existing: $206,000  
* Seasonally Adjusted Annual Rate

   
 
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