NBN Online for the week of June 12, 2006

Housing Affordability Worsens With High Building Costs

Rising interest rates and high land and production costs will continue to push the cost of housing beyond the means of many American families, and a disproportionate share of the blame for today’s sky-high prices goes to misguided local government policies, according to participants in a June 8 symposium on barriers to homeownership.

The one-day meeting in Washington, D.C. was sponsored by Wells Fargo Home Mortgage and attended by some 300 representatives from home building, home finance, Realtors®, housing affordability advocacy groups and government, including HUD Secretary Alphonso Jackson.

The symposium addressed the current economic and demographic conditions that are constraining homeownership, as well as the need to educate consumers and to provide financial services that meet the needs of low- and moderate-income families.

[MORE]

Lumber Prices Provided by Random Lengths

Share Nation's Building News With Your Staff — It's Free

Make your business click. Subscribe your employees and trade partners to Nation's Building News — the free, online e-newspaper of NAHB.

Each issue is filled with valuable news and information on every aspect of the home building industry — business and builders tips; the latest materials prices and mortgage and interest rates; new technologies; cutting edge design; state and federal regulations and how they affect the industy; and more. Information your entire company needs to stay ahead of your competitors.

Forward this issue to your employees and trade partners and ask them to subscribe.

Nation's Building News, it's free to them — invaluable to you.

Don't delay, have your employees subscribe today. To subscribe, go to www.nahb.org/nbn.

Wisconsin Law Puts Needed Limits on Residential Impact Fees

Builders and developers in Wisconsin advocating reform of impact fees in the state scored a swift victory on Tuesday, May 30 when Democratic Gov. Jim Doyle signed Senate Bill 681 (Wisconsin Act 477) into law — just seven weeks after the bill was introduced.

“Over time, this legislation will help control the cost of new homes because it will lower the cost of developing a lot,” said Bill Wendle, executive vice president of the Wisconsin Builders Association. “It will be most helpful to first-time buyers, especially low- and moderate-income families, because it will make it easier for them to buy that first home and enjoy the benefits of homeownership.”