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The home of HBA of Mississippi Executive Officer Marty Milstead's parents before and after Katrina.

Extraordinary Measures Needed to Spur Rebuilding

NAHB last week offered Congress several recommendations on how to address the immediate critical housing needs of Hurricane Katrina evacuees and the long-term reconstruction of housing infrastructure and supply in the aftermath of the storm’s extraordinary devastation.

NAHB President David Wilson urged the federal government to partner with the building industry to tackle the monumental rebuilding efforts.

“The task of rebuilding is unprecedented, with more than a million people homeless or displaced,” Wilson told members of the House Financial Services Subcommittee on Housing and Community Opportunity. “While NAHB understands the immediate need to build temporary housing quickly, ultimately, it is important that quality housing is rebuilt and that community character is restored to affected neighborhoods.” ...

Framing Lumber Composite $ 403 $ 6
OSB Composite $ 444 $ 27
Southern Pine Plywood Composite $ 606 $ 23
With permission from: www.randomlengths.com 
 

NAHB Provides Relief, Resources for Hurricane Victims and Displaced Builders

NAHB launched a multi-pronged relief and rebuilding effort to assist Hurricane Katrina victims — both the general public and building industry members — just days after the hurricane came ashore and devastated the Gulf Coast, killing hundreds, destroying or damaging hundreds of thousands of homes and leaving 1 million people homeless.

To address immediate and critical housing and humanitarian needs, NAHB last week donated $1 million to the American Red Cross and Salvation Army. Contributions of $500,000 were made to each relief organization. ...

Interest Rates  
  30-Yr. Fixed: 5.74% 15-Yr. Fixed: 5.32% 5 Yr. ARM: 5.26%
  1 Yr. ARM: 4.46% Libor (3 months): 3.92% Prime: 6.50%
Housing Starts*  (July 2005)
  Total: 2.042 million Single: 1.711 million Multi: 331,000
Home Sales*  (July 2005)
  New: 1.410 million Existing: 7.16 million  
Median Home Prices  (July 2005)
  New: $203,800 Existing: $218,000  
* Seasonally Adjusted Annual Rate

   
 
Miller Advises Against Setting a Dangerous Precedent by "Downsizing" the GSEs
What Makes Freddie Mac a Good Idea?
 
   
 
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