NBN Online for the week of April 14, 2008

Flurry of Housing Measures Aim at Jump-Starting Economy

Housing legislation approved last week by the full Senate and House Ways and Means Committee will help to address the housing crisis and economic slowdown, according to the nation’s home builders.

“These bills are an important step in the process of enacting comprehensive housing legislation that will shore up housing and the economy,” said NAHB President Sandy Dunn. “We will continue to work on a bipartisan basis with lawmakers in both chambers and with the Bush Administration to produce the most effective legislation to help ailing home owners and restore consumer confidence.”

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Lumber Prices Provided by Random Lengths

Unsold Home Inventory Casts Shadow on Apartments

Looking at the depth of the current housing slump, attendees at NAHB’s Multifamily Pillars of the Industry Conference in Colorado Springs, Colo. on April 1-3 heard that conditions in their sector were holding up relatively well — even as an oversupply of unsold inventory and a weak national economy are having some negative impact on demand.

The multifamily industry has “a lot to struggle through but is doing better than single-family,” said Bernard Markstein, NAHB’s director of forecasting and senior economist. And the downturn, he said, is likely to last until housing prices stabilize and home mortgage lenders return in full force, which is “a problem for everyone.”

Media, Mayors Support ‘Buy Now’ Campaign in Arkansas

The Northwest Arkansas Home Builders Association knew getting the “Buy Now” message out to buyers and the media would be a challenge for just one organization. So they recruited the Board of Realtors®, the Mortgage Bankers Association of Arkansas and even three local mayors to come together to create and launch the “Buy NWA Now!” public relations campaign.

“We set up a public relations committee that met every week and was composed of representatives from each of the organizations,” said Bob Musson, national director of the HBA.

The Big Hunt Sets Its Sights On National Membership Day

National Membership Day — the federation-wide membership drive — is set for Tuesday, May 20, and across the country NAHB members and membership chairmen have donned their bush jackets and pith helmets to help grow and revitalize their local builders associations during the NAHB annual event.

This year’s drive, themed “The Big Hunt,” helps HBAs energize their members, creates excitement, builds momentum and even pits associations in a few friendly cross-state, cross-country or member-to-member rivalries.

“Over the years, National Membership Day has become a key part of our culture,” says Vince Butler, NAHB membership chairman. “It’s always an exciting event.”