October 3, 2011
Nation's Building News

The Official Online Newspaper of NAHB

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NAHB at GOP Straw Poll in Michigan to Make Housing a Key Issue in Election Campaigns
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As part of its ongoing efforts to make housing prominent in the debate over restoring the economy leading up to next year’s presidential and congressional elections, NAHB, along with the National Journal Hotline, sponsored the Michigan straw poll that took place on Sept. 25 during the 29th Biennial Mackinac Republican Leadership Conference at Mackinac Island, Mich.

More than 1,600 elected officials and party regulars from across the state and the country attended the three-day conference.

The event culminated in a straw poll victory for home town favorite Mitt Romney, who grew up in the Detroit suburbs and whose father, George, served as a three-term governor of the Wolverine State in the 1960s.

NAHB Senior Officers Rick Judson and Bob Jones, along with senior NAHB staff members and Daniel MacLeish and Bob Filka, president and executive officer of the Michigan Association of Home Builders, respectively, were on hand to discuss key housing issues with GOP political leaders. ... Read More

Lumber Prices Provided by Random Lengths
Framing Lumber Composite $ 265 $ 2
OSB Composite $ 201 $ 3
Southern Pine Plywood Composite $ 456 $ 2
With permission from: www.randomlengths.com      
Layouts For Living
Floor Plans: Charming, Affordable Single-Family Home That Makes Sense for the Environment
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The charming and affordable Payton model in Loma Vista, Calif. Photos by Eric Figge Photography

Built in Loma Vista, Calif. — the master-planned urban village with quaint, small-town charm within the city of Clovis — the Payton model was designed as an affordably priced home that’s also affordable to operate.

The stylish two-level home offers greener living through builder McCaffrey Homes' smarter design Earth Sense program — an innovative, whole-house system approach to environmental responsibility and higher energy efficiency that exceeds California’s highest energy requirements by at least 15% — while addressing the need to conserve water with WaterSense products, drip irrigation drought-resistant landscaping. ...... Read More

NAHB Asks for Balanced Approach to Dispose of Foreclosed Properties

NAHB on Sept. 20 urged the Administration and Congress to take a balanced approach in disposing of the large inventory of real estate owned (REO) properties held by Fannie Mae, Freddie Mac and the Federal Housing Administration to avoid further disruptions to housing prices and markets and to limit further losses to the two government sponsored enterprises and the FHA.

Testifying before the Senate Subcommittee on Housing, Transportation and Community Development on new ideas to address the current glut of foreclosed properties, NAHB Chairman Bob Nielsen said that Fannie, Freddie and the FHA should avoid bulk sales to large investors that have no stake in the neighborhoods in which these properties are located. ...... Read More

Status Review of Rare Animal and Plant Species Will Affect Builders in the Southeast
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In a move that could have a significant impact on home builders throughout the Southeast and in the Gulf Coast states, the U.S. Fish and Wildlife Service (FWS) on Sept. 27 said that it will conduct an in-depth status review of 374 rare animal and plant species to determine if they warrant protection as endangered or threatened under the Endangered Species Act.

In what is commonly known as a 90-day finding, the Fish and Wildlife Service announced the decision to further examine the species after reviewing a petition to add more than 400 species to the federal threatened and endangered species lists. ...... Read More

Housing Snapshot
Interest Rates  
30-Yr. Fixed: 4.01% 15-Yr. Fixed: 3.28% 5 Yr. ARM: 3.02%
1 Yr. ARM: 2.83% LIBOR (3 months): 0.38% Prime: 3.25%
Housing Starts*  (August 2011)
Total: 571,000 Single: 417,000 Multi: 154,000
Home Sales*  (August 2011)
New: 295,000 Existing: 5.03 million  
Median Home Prices  (August 2011)
New: $209,100 Existing: $168,300  
* Seasonally Adjusted Annual Rate

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