States, Cities Told Housing Needed to End Revenue Slump

Job losses and declining tax revenues resulting from the deep housing slump and the decline in property values require state and local governments to consider innovative ideas to help put the housing market back on track, according to NAHB Chairman Sandy Dunn.

"Necessity is indeed the mother of invention during a financial crisis," Dunn said. "While the federal government has stepped forward with a series of emergency actions to stabilize and restore confidence in the financial markets, it's now time for the same sort of innovative thinking at the local and state levels where public officials are grappling with budget shortfalls that are putting a squeeze on spending for everything from schools to public safety and other essential services." ...

Executive Producer Conrad Ricketts

NAHB Achievement Award Honors ‘Extreme Makeover: Home Edition’

In a ceremony at the association’s board of directors meeting on Sept. 26 in San Diego, NAHB presented its first-ever Special Achievement Award for Contributions to the Home Building Industry to the “Extreme Makeover: Home Edition” television show.

“Through their work, the talent, creativity, dedication and generosity of the home-building community has been showcased in millions of living rooms across the country,” said NAHB Chairman Sandy Dunn. ...

Clarification on Extension of Energy Tax Provisions

An article in the Oct. 6 issue of NBN detailing the extension of housing-related energy tax incentives incorrectly stated that the Section 25C credit for existing homes was retroactively extended for installations in 2008. In fact, H.R. 1424 only extended the existing homes tax credit for 2009 installations of certain energy-efficient home improvements. The credit expired at the end of 2007, and no retroactive extension for 2008 was provided.

For a related story in this issue of NBN on how residential remodelers can use the tax credit for existing homes, click here.