NBN Online for the week of June 16, 2008

Stimulus Bill Urgently Needed as Housing Signs Darken

The push is on for enactment of housing stimulus legislation before Congress leaves for its July 4th recess, and NAHB members are being urged to participate in the association's current lobbying blitz. For more information, click here. For a related story in this week's NBN, click here.

With the severe housing downturn taking a mounting toll on the U.S. economy, the nation’s home builders in a June 16 news media teleconference stressed the urgency of Congress enacting a housing recovery plan before it leaves Washington for its July 4th recess.

“Too much time has passed, too many home owners are in trouble, too many home buyers are waiting and too many home builders are going out of business,” said Jerry Howard, NAHB’s executive vice president and CEO.

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Lexington Builders Put ‘Buy Now’ Message on Television

With its payroll employment on an upswing, unemployment down, home prices rising 3% over the past year and Bloomberg.com describing the area as “a true housing bargain,” Lexington, Ky. nevertheless has seen negative reporting on its housing market, prompting the Home Builders Association of Lexington (HBAL) to fight back on the media’s own turf.

“There’s no doubt our market had slowed, like everywhere else, but in no way should the papers have been comparing Lexington to other markets around the country that are experiencing a significant downturn,” said Todd Johnson, the association’s executive vice president.