NBN Online for the week of February 20, 2006

Zero-Down FHA Loans Again Proposed in 2007 Budget

Unveiling an austere budget that proposes to cut non-defense discretionary spending for the second straight year, President Bush on Feb. 6 delivered his $2.77 trillion fiscal 2007 budget proposal to the Congress.

The White House is proposing saving $65 billion over five years by slowing the growth of entitlement spending and saving an additional $20 billion by eliminating or largely reducing more than 140 government programs.

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Lumber Prices Provided by Random Lengths

Lumber Tariffs Remain a Barrier to Affordable Housing

Stating that unwarranted lumber tariffs needlessly harm housing affordability and impose a hidden tax on American home buyers, the nation’s home builders last week called on the Administration and Congress to adopt and follow free trade policies and to fully consider the impact of lumber trade constraints on American consumers.

The cost and supply of lumber is the third biggest challenge for association members, according to the most recent Critical Issues survey conducted by NAHB, covering the period of October 2004 through December 2005.