NBN Online for the week of April 30, 2007

Housing Correction May Soon Run Its Course

Difficulties in the subprime mortgage market have prolonged the current housing downturn and have raised some uncertainties for the future, but economists participating in the NAHB Spring Construction Forecast Conference in Washington, D.C. on April 26 said they expect the industry to start turning around, as early as the second half of this year.

Looking at the broader picture, they said that the housing downturn, though steep, is unlikely to push the nation’s economy into a recession and that job, income and population growth will help support ongoing improvement in demand for housing.

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New Homes Less to Blame for Gas Emissions Than Older Housing

A new study on residential greenhouse gas emissions shows why consumer education and more efficient power plants are crucial to reducing energy consumption and carbon dioxide emissions.

The U.S. government has estimated that homes are responsible for 21% to 22% of both energy consumption and greenhouse gas emissions, but more than half that amount results from the inefficient generation and transmission of energy, according to the report by NAHB economists.

$2 Million in NAHB ‘Buy Now’ Advertising Grants Now Available

The first phase of NAHB’s “Buy Now” Advertising Assistance Program was a huge success, and the program will continue with an infusion of $2 million in additional funding. The program has received enthusiastic and immediate support from home builders associations across the country since its launch in mid-February.

After reviewing survey results and feedback from the $1 million first phase of the program, the NAHB Senior Officers approved the remaining $2 million in funding at last week’s executive board meeting in Las Vegas.

In late March, NAHB Public Affairs began surveying members whose campaigns were well underway in order to evaluate the success of the initial $1 million. The survey results were overwhelmingly positive. More than three-quarters of respondents rated their association’s “buy now” campaign “effective.” An equally high number — 78% — said that their campaign delivered a credible “buy now” message. The majority responded that the campaign had started to help change home buyer attitudes in their marketplace. Seventy-eight percent reported that members of their industry and community viewed the campaign positively.

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