NBN Online for the week of December 11, 2006

Housing Fundamentals Remain Strong, Hovnanian Says

Job growth and household formations are well on track to support a turnaround in the housing industry, according to Ara Hovnanian, president and CEO of Hovnanian Enterprises.

“Housing is driven by household creation,” Hovnanian told almost 200 New Jersey municipal officials and their advisors. “The demographics are solid. The United States population continues to grow.”

Hovnanian’s remarks, and other materials from his company geared to alerting the public to some of the unique home buying opportunities available in the current marketplace, have been added to NAHB’s “It’s a Great Time to Buy” section that is available to members on the association’s Web site.

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Second and Urban Homes Not a Big Lure for Baby Boomers

Although they may be healthier, wealthier and better educated than previous generations, aging baby boomers are no more likely to purchase second homes or move from the suburbs to an urban area than the retirement-age households that have preceded them, according to a recent study from the Research Institute for Housing America in conjunction with Radian and the Mortgage Bankers Association.

Better news for those who have been eyeing these markets is that both segments will receive a boost based upon the sheer numbers of baby boomers who will be entering retirement age.

Building Homes of Our Own, NBN Earn National Honors

Two vital outreach programs from NAHB ― Building Homes of Our Own, the award-winning interactive teaching tool for students, teachers and parents; and Nation’s Building News, the most comprehensive weekly source for home building industry news in the country — have earned national honors from PRNews, the 61-year-old publication about the business impact of public relations.

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