Builders Fear Slower Housing Market as Tax Credit Fades

In an ongoing series of NAHB media teleconferences being held around the country to increase public awareness of the need for Congress to move quickly on stimulating housing and the nation’s economy, home builders last week indicated that their home sales are beginning to trail downward in the face of the Nov. 30 closing deadline for the first-time home buyer tax credit.

The tax credit has become increasingly popular among younger members of the home-buying public, who have been providing testimonials on its importance in their decisions to become home owners at a time of affordable prices and interest rates. As the final weeks for using the credit wind down, traffic has remained brisk at NAHB’s Web site, www.FederalHousingTaxCredit.com, which contains links to more information on the credit on Facebook, Twitter and YouTube. ...

Impact Fee Alternatives Being Used by Cities to Finance Infrastructure

In the face of the current housing downturn and dwindling economic resources, communities across the nation are lowering or suspending impact fees and looking at other available financing mechanisms such as public improvement districts and tax increment financing to raise revenues for needed public facilities.

To assist home builder associations with changing the conversation from impact fees to these alternative financing mechanisms, the NAHB Land Development Committee is hosting a free webinar on Sept. 24 beginning at 2:00 p.m. EDT that will provide an in-depth analysis on this issue. ...