FDIC Bank Takeovers Hurting Home Sales, Builders Report

Home builders with outstanding construction loans are reporting that they are having to stop work on new housing developments and are losing sales as the result of failed banks and thrift institutions being taken over by the Federal Deposit Insurance Corporation (FDIC).

“Builders with outstanding loans that are placed under FDIC control are frequently unable to contact a decision maker to deal with routine but time-sensitive matters related to loan draws or extensions,” NAHB President and CEO Jerry Howard said in a Nov. 20 letter to FDIC Chairman Sheila Bair. ...

No Radon Health Risks Uncovered in Granite Countertop Study

Responding to unsubstantiated news reports raising concerns over radon radiation in granite countertops, the Marble Institute of America reported on Nov. 17 that in the largest scientific study of the product ever it did not find a single stone slab that poses a health risk.

“Quantities of radon and radiation emitted by stones included in the analysis all fell well below average background levels commonly found in the United States,” the institute said. ...

Buffalo Builders Find Sales Among Mid-30s, 40s Buyers

The Western N.Y. housing market hasn’t experienced the peaks and valleys of the housing market as dramatically as some other markets across the nation. Like the tortoise in Aesop’s fable, new home production and prices in the area have moved at a slow and steady pace.

“Like everyone, we’ve taken some hits and consumer confidence has been affected, but overall we’re a market that has bucked the trend,” said Joe McIvor, executive vice president of the Buffalo Niagara Builders Association. ...

Read More in Nation’s Building News — Win a Full IBS Registration

Click on and read five or more stories in this issue of Nation’s Building News and you automatically will be entered in a contest to win a full registration to the 2009 International Builders’ Show in Las Vegas on Jan. 20-23.

Full registration — $425 for members and $575 for non-members — gives attendees access to four days of exhibits on one million net square feet of exhibit space, all the educational sessions at IBS and new, daily-featured speakers who will give you pointers on how to navigate the downturn.

Continue Reading the Industry News That Is Important to You

There are no forms or paperwork to fill out to enter this contest. Just read more about what’s important to you and your business in Nation’s Building News each week.

One avid reader will be selected randomly each week through the Dec. 22 issue. So read more in every issue until then to improve your chances of winning — and to put your business in a better position during the downturn. ...

Nation's Building News Will Not Be Published Dec. 1

Nation's Building News will not be published on Dec. 1, the Monday following Thanksgiving. It will return to its regular weekly schedule on Dec. 8.

Happy Thanksgiving!