NBN Online for the week of September 5, 2005

Economists Begin to Assess Katrina’s Toll on Housing

While the full extent of the impact of Hurricane Katrina on the overall economy and on the housing market is still unclear, and the immediate concern has focused on human life and health, economists at NAHB are beginning to assess the impact that the catastrophe will have on the housing industry.

The number of homes destroyed last week is almost certain to dwarf the losses from any previous U.S. natural disaster. Past experience, together with the visible devastation, has provided some basis for housing analysts at NAHB to project the effects on construction activity, the supply and cost of building materials and construction labor, and other implications for the housing market.

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NAHB Establishes Relief Fund for Katrina Victims

Through the National Housing Endowment, NAHB has established a relief fund for home builders associations and their members to make contributions to help the victims of Hurricane Katrina in Florida, Louisiana, Alabama and Mississippi.

Low-Income Housing Can Be Used for Hurricane Victims

The IRS and Treasury Department have announced they are waiving rules that prohibit owners of low-income housing from providing that housing to victims of Hurricane Katrina who do not qualify as low-income. The action is aimed at expanding the availability of housing for disaster victims and their families.

Nation's Building News Will Not Be Published Sept. 12

Nation's Building News will not be published on Sept. 12, following the fall NAHB Board of Directors meeting in Reno, Nev. It will return to its regular weekly schedule with the Sept. 19 issue.