NBN Online for the week of December 17, 2007

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In This Issue:

Front Page
Fed and Senate Take Steps to End Mortgage Credit Crunch
Washington Builders Limit Runoff From Record Rainfall
Nation's Building News Will Not Be Published During the Holidays
Read Our International Builders' Show Preview on Jan. 14
Coast to Coast
Lennar Homes Underscores Its Commitment to the Northeast Housing Market
Politics & Government
Senate Energy Bill Passed Without Tax Incentives
House-Passed AMT Relief Bill Faces Uncertain Future
Bill Would Let Bankruptcy Judges Alter Mortgage Terms
Legislative Conference Set for April 30
Economics & Finance
Builders Look for Signs of Improvement
Florida Builders Must Adjust to New Market Realities
NAHB Teleconference Looks at What’s Ahead for Housing
Useful Links to Monitor Economic and Housing Trends
Tips
Builders' Tip: Steel Corners Make Clean Corners
Sales
Let Buyers 'Option Up' With More Packaged Options
50Plus Housing
A Community With Sol Thrives in Tucson
First AARP-NAHB ‘Livable Communities’ Honored
Remodelers
Slow Times Are the Go Time for Tuning Up Your Business
Building Systems
SIPs the Way of the Future, SIPs User for 20 Years Says
Free Builders’ Show Lunch Focuses on Concrete
Education
Education Calendar
Disaster Relief
Brad Pitt Seeks Donations to Build 150 New Orleans Homes
Research Center
NAHB’s Bob Jones to Address EnergyValue Housing Awards
Green Building
Feb. 14 ‘Green Day' Highlight of Builders’ Show
New Green Standard Comment Period Starts Dec. 21
Consumer Spending on Green to Double Next Year
Legal
Proposed Bill on Clean Water Goes Overboard
Labor
Complete RCS Lineup Being Offered at Builders' Show
Building Products
Strong Door, Small Cut Saw Best of What’s New in 2007
TV
NAHB-Produced Programs on DIY, Fine Living and HGTV
Endowment
Seiders Discusses Housing Cycle at Penn State Lecture
View Free Construction Management Seminar Webcast
Association News
Robert Holmes, Leading California Contractor, Dies at 86
Drive Away With a New $500 GM Offer This Holiday Season
End Public Speaking Anxiety With ‘Spokesperson Training' at IBS
UPS Offers Up to 30% Discount to NAHB Members on Shipping
Introducing the Hertz Green Collection. Reserve and Conserve.
Calendar of Events
NAHB Career Center

Top Story

Fed and Senate Take Steps to End Mortgage Credit Crunch

As the Federal Reserve Board continued last week to reduce interest rates and alleviate stress in the money markets, the Senate made up for several weeks of inaction on key legislative priorities for NAHB and passed bills that would modernize the Federal Housing Administration and eliminate taxes on forgiven mortgage debt.

During the previous week, the White House announced an ambitious effort to significantly reduce foreclosures with a five-year interest rate freeze on certain subprime mortgages, another important provision that home builders are hoping will help restore confidence in the housing market and lead to a prolonged period of recovery beginning in 2008.
[MORE]

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Washington Builders Limit Runoff From Record Rainfall


Record-breaking rainfall in the Northwest inundated parking lots and overwhelmed storm water management systems in Washington state two weeks ago, but the Kitsap Home Builders Association came through unscathed thanks to pervious pavements, a rain garden and other low-impact development features installed by member volunteers that kept excess water at bay.

In 48 hours, the Bremerton, Wash. area was saturated by about 13 inches of precipitation, a record even for the rainy Northwest, or at least for the city itself, said the association’s executive director, Art Castle. “When I came in to work Monday morning, the rainfall was still at its peak and I saw a river running down the street,” he said.  But at the HBA headquarters, “there was no surface runoff from the site,” he said.

[MORE]

Nation's Building News Will Not Be Published During the Holidays

Nation's Building News will not be published on Dec. 24, Dec. 31 or Jan. 7. Publication will resume on Jan. 14 with a special preview issue of the 2008 International Builders' Show.

Have a happy and warm holiday season and a Happy New Year.

Read Our International Builders' Show Preview on Jan. 14

Nation's Building News will be publishing a special issue on Jan. 14 that will highlight the upcoming 2008 International Builders' Show in Orlando, the largest residential and light commercial trade show in the world.

The issue will feature events, courses, schedules, products and more.  

More than 100,000 housing professionals — including home and apartment builders, architects and product manufacturers — are expected to attend the show at the Orange County Convention Center Feb. 13-16.

For more information, visit the International Builders' Show Web site at www.BuildersShow.com.

Housing Snapshot

Interest Rates  
  30-Yr. Fixed: 6.11% 15-Yr. Fixed: 5.78% 5 Yr. ARM: 5.89%
  1 Yr. ARM: 5.50% Libor (3 months): 4.94% Prime: 7.25%
Housing Starts*  (October 2007)
  Total: 1.229 million Single: 884,000 Multi: 345,000
Home Sales*  (October 2007)
  New: 728,000 Existing: 4.97 million  
Median Home Prices  (October 2007)
  New: $217,800 Existing: $207,800  
* Seasonally Adjusted Annual Rate

 

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