Week of December 8, 2008
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Housing Stimulus Urged to Halt Erosion of U.S. Economy

Leading one of the largest coalitions of housing advocates ever assembled in the United States, NAHB is pushing for a housing stimulus plan that will stabilize the marketplace and address the ongoing crisis in the financial markets that is constraining the flow of credit the nation needs to arrest a deepening recession.

Almost 100 organizations, home building companies and manufacturers have joined in support of Fix Housing First, which is pressing for legislative action to provide short-term, targeted incentives that will encourage consumers to buy homes again and end the dangerous downward housing market spiral that has now taken hold of the entire U.S. economy. ...

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NAHB Advises Obama Transition Team on Housing Policy

Along with its efforts to lead a national campaign to "Fix Housing First" with a stimulus plan to restore home buying demand, NAHB has prepared an analysis of key housing policy issues for President-elect Barack Obama so his Administration can hit the ground running next month in addressing the worst housing downturn since the Great Depression.

“As we have seen in previous business cycles, housing has led the general economy into recession and it will be needed to lead the economy back on the road to recovery,” said NAHB Chairman Sandy Dunn. “Unfortunately, the financial turmoil experienced this fall has dealt a terrible blow to consumer confidence and it is seriously eroding the credit home builders must have to survive the coming year. Without a helping hand from Washington, we are facing even more perilous times.” ...

Lending Horror Stories Proliferate in Florida

In its efforts to focus attention on lending practices that are pushing solvent, credit-worthy home builders to the brink of financial disaster, the Florida Home Builders Association has documented real-life cases from around the state in which the industry’s ability to provide housing is being placed in jeopardy.

“Banks are making additional capital calls, and they are calling loans not in default, eliminating lines of credit, and in many cases, altogether doing away with construction finance,” said Jay Carlson, president of the association. ...

Rendering of The New American Home 2009

Read Our International Builders' Show Preview on Dec. 15

Nation's Building News will be publishing a special issue on Dec. 15 that will highlight the upcoming 2009 International Builders' Show in Las Vegas, the largest residential and light commercial trade show in the world.

The issue will feature photos and floor plans of The New American Home, events, courses, schedules, products, special sessions on how to navigate the downturn and more.

IBS will be at the Las Vegas Convention Center on Jan. 20-23.

For more information, visit the International Builders' Show Web site at www.BuildersShow.com.

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. ...

Interest Rates  
  30-Yr. Fixed: 5.53% 15-Yr. Fixed: 5.33% 5 Yr. ARM: 5.77%
  1 Yr. ARM: 5.02% Libor (3 months): 2.19% Prime: 4.00%
Housing Starts*  (October 2008)
  Total: 791,000 Single: 531,000 Multi: 260,000
Home Sales*  (October 2008)
  New: 433,000 Existing: 4.98 million  
Median Home Prices  (October 2008)
  New: $218,000 Existing: $183,300  
* Seasonally Adjusted Annual Rate

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