NBN Online for the week of November 6, 2006

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In This Issue:

Front Page
Los Angeles Bond Addresses Housing Affordability Crisis
Mortgage Rate Dip Gives Home Buyers More Good News
Play Builders' Free Online Pro Football. Don't Drop the Ball.
Share Nation's Building News With Your Staff. It's Free.
Coast to Coast
Slowdown Hits Banks
Politics & Government
Millions of Pricey Homes Could Trigger Estate Taxes in 2011
States Bring Property Tax Relief in Recent Sessions
Economics & Finance
Builders Pursue Opening Up U.S. Lumber Market
Poor People in Wealthy Areas Die at Higher Rate, Study Finds
Eye on the Economy: Housing Demand May Be Stabilizing
Useful Links to Monitor Economic and Housing Trends
Remodeling Market Could Top $359 Billion a Year by 2015
Who Will Build It When They Come?
Builder’s Tip: A Simple Way to Close Off Window Openings
L.A. Trolley Station Becomes Award-Winning Apartments
Want to Know More About Designations? Ask an Expert
Education Calendar
Register for 2007 Builders' Show by Nov. 17 and Save
Construction Safety
OSHA Inspectors See Safety Through the Eyes of a Builder
Indoor/Outdoor Chores Prepare Home for Winter Cold
Cranberry Bog Ruling Adds to Wetlands Jurisdiction Debate
Settlement Proposed for Steel Tubing Lawsuit
Workforce housing
Apply for 2006 Workforce Housing Awards by Nov. 17
HBI, Louisiana Tech Schools Help to Rebuild New Orleans
Building Products
Viking Microwaves Now Come in a Rainbow of Colors
NAHB-Produced Programs on HGTV & DIY This Week
Webcast Seminar Featuring Centex CEO Draws 4,000
Association News
Winchester Homes Honored for '25 Acts of Charity'
Reader Survey: Tell Us What Housing News Is Important to You
GM $500 Off Exclusive Offer for NAHB Members
UPS Offers Up to 30% Discount to NAHB Members on Shipping
New York Builders Recognized for Pediatric Respite House
Calendar of Events
NAHB Career Center

Top Story

Los Angeles Bond Addresses Housing Affordability Crisis

Los Angeles can become a national model for providing quality housing that is affordable to low- and moderate-income families, according to leaders of the Los Angeles Chapter of the NAACP and the Building Industry Association of Greater Los Angeles/Ventura Chapter. Both organizations have endorsed Prop H on the Nov. 7 ballot, which would provide bond financing for affordable housing.

The two organizations co-hosted a town-hall meeting at Los Angeles’ Holman United Methodist Church last week to discuss the state of housing in the city and to envision how the city might use the $1 billion for housing if the proposition passes.

“It’s no exaggeration to say that Los Angeles has the nation’s most serious housing crisis,” said Brian Catalde, NAHB’s president-elect and a builder in the Los Angeles area. “Proposition H has the potential to enable homeownership, promote construction of affordable rental housing and support housing for the homeless on an unprecedented scale. It would also create jobs, encourage additional investment in the city and enlarge the tax base.”

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Framing Lumber Composite $ 273 down $ 7
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Mortgage Rate Dip Gives Home Buyers More Good News

Mortgage interest rates receded again last week, providing more good news for families who are pursuing home buying opportunities in today’s buyers market.

Materials put at the disposal of NAHB members last week, “It’s a Great Time to Buy,” emphasize that home buyers have greater opportunities today than they have had for several years, with prices leveling off, mortgage interest rates remaining near their historic lows and a relatively strong economy continuing to create job and income growth.

According to Freddie Mac's Primary Mortgage Survey, mortgage rates for the week ending on Thursday, Nov. 2 reversed a short-lived upward turn. The 30-year fixed-rate mortgage averaged 6.31%, down from an average of 6.40% during the previous week, bringing them to the same level they were exactly a year earlier.


Play Builders' Free Online Pro Football. Don't Drop the Ball.

Don't miss another weekend of NFL games — and your chance to win prizes from HGTVPro. Sign up and play in the Builders Football League (BFL) on HTGVpro.com — the free, online pro football "pick 'em" contest with a special league for NAHB members.

Playing is free, fun and easy ― and participants have a chance to win weekly prizes or the grand prize — a Panasonic 61-inch high definition TV — at the end of the season.


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 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.


Housing Snapshot

Interest Rates  
  30-Yr. Fixed: 6.31% 15-Yr. Fixed: 6.02% 5 Yr. ARM: 6.05%
  1 Yr. ARM: 5.53% Libor (3 months): 5.38% Prime: 8.25%
Housing Starts*  (September 2006)
  Total: 1.77 million Single: 1.43 million Multi: 346,000
Home Sales*  (September 2006)
  New: 1.075 million Existing: 6.18 millon  
Median Home Prices  (September 2006)
  New: $217,000 Existing: $220,000  
* Seasonally Adjusted Annual Rate


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