NBN Online for the week of June 2, 2008

Lenders Asking Builders, Developers to Pay Down Loans

A recent snapshot of builders and developers in a special survey by the NAHB Economics Group has found that acquisition, development and construction (AD&C) credit has tightened since last year.

In addition, while not a majority, significant numbers of builders and developers have been asked to pay down outstanding construction and land acquisition or development loans, according to the study.

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Lumber Prices Provided by Random Lengths

2008 National Membership Day Brings in 6,939 New Members

Nearly 400 local associations phoned in 6,939 member pledges during NAHB’s 2008 National Membership Day on May 20. The drive brought in about 40% fewer new members than last year’s record-setting recruitment effort.

“It is no secret to anybody that these are tough times,” said NAHB Executive Vice President and CEO Jerry Howard. “We are attuned to what the members are going through and want to do all we can to make sure all our locals stay strong and viable.”

The membership day three-hour webcast included live, special guest lectures and pre-recorded videos covering important topics such as grassroots networking, member retention strategies and insights into the 50+ and remodeling markets. Key membership benefits were also highlighted.

Southern California Builders Tout Benefits of Buying Brand New

“Buy New! Buy Now!” is the emphatic message that the Building Industry Association of Southern California (BIASC) is spreading in a 90-day campaign launched on May 22.

Challenged by housing affordability hurdles and a high number of foreclosures in the local marketplace, the association chose to stick to the fundamentals when crafting the campaign’s message: low-interest rates, great selection and lower home prices make this a good time to buy.

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