NBN Online for the week of June 30, 2008

(Plain Text Version) for full graphical version, click here.

In This Issue:

Front Page
California’s Housing Market Finds Itself in Dire Straits
Nation's Building News Will Not Be Published July 7
Sen. Ensign Stalls Consideration of Housing Bill
Coast to Coast
Resets Peaking on Subprime Loans
Politics & Government
Carried Interest Provision in AMT Bill Would Harm Housing
States, Cities Offering Mortgage Counseling and Refinancing
Economics & Finance
New-Home Sales Decline In May
FHA Implements Risk-Based Mortgage Insurance Premiums
FHA Proposes to Halt Seller-Funded Downpayments
Eye on the Economy: Housing Policy Support Should Arrive Soon
Labor Department Collecting Building Industry Employment Data
Useful Links to Monitor Economic and Housing Trends
Tips
Builders’ Tip: Fabricating an Inexpensive Dust Collector
Business Management
Solidify Warranty Expectations With a Knowledgeable Staff
Women
Draw on Business Basics When the Sky is Falling
Remodelers
More Home Owners Seeking Energy-Efficiency Upgrades
Earn Designation Credits at the Remodeling Show
New Graduate-Level Designation Expands CGR Knowlege Base
Design
Smaller Homes Could Be Making a Comeback
Enter the BALA Design Competition by July 31
Sales
Training and Evaluating Sales Teams Bring Sales Success
Enter The Nationals Sales and Marketing Awards by Sept. 26
Education
Education Calendar
Green Building
Consumers Want Green Benefits, Confused by Details
‘WaterSmart’ Conference Set for Las Vegas
Environment
NAHB Takes Issue With New Construction General Permit
Safety
OSHA Has Free, Teen Summer Job Safety Materials
Legal
Ask the Lawyer: Passing on Fuel Surcharges
Labor
Lowe’s Introduces Hispanic Interns to Housing Careers
Building Products
Weyerhaeuser Announces Structural Framing Giveaway
TV
NAHB-Produced Programs on DIY, Fine Living and HGTV
Endowment
Connecticut Team Builds Home for Injured Iraqi War Veteran
Stuard Scholarship Fund Announces 17 Winners
Association News
Macon Builder Robert Cleveland Dead at 71
Save $25 on Hertz ‘Green,’ ‘Fun’ or ‘Prestige’ Weekly Rentals
Save 10% With Office Depot Large-Format Printing Services
Willams Scotsman Offers $1.99 First-Month Storage Container
Sign Up for ‘Spokesperson Training’ Sessions at Fall Board
GM $500 Private Offer: Easy as 1-2-3
Calendar of Events
NAHB Career Center

Related Articles

California’s Housing Market Finds Itself in Dire Straits

Nation's Building News Will Not Be Published July 7

Sen. Ensign Stalls Consideration of Housing Bill

With the Senate poised to pass badly needed housing stimulus legislation, Sen. John Ensign (R-Nev.) abruptly stopped the bill in its tracks when he insisted on voting on an amendment that would add $8.2 billion in energy tax-break extensions to the package. Ensign’s 11th hour procedural hurdle has kept the Senate from voting on the housing bill until lawmakers return from their July 4th recess.

Prior to Ensign’s action, the Senate completed work on one section of the housing package, approving by an overwhelming 79 to 16 vote a portion of the bill that would modernize the Federal Housing Administration (FHA) and reform for government sponsored enterprises Fannie Mae, Freddie Mac and the Federal Home Loan Banks.

The bill has been pulled from the floor and Majority Leader Harry Reid (D-Nev.) has indicated that the Senate will try again to complete work on the legislation after lawmakers return on July 7 from a week-long break. 

Ensign Digs In

Ensign had delayed the bill’s progress for two days, while the Senate leadership objected that the energy provisions would nearly double the cost of the housing package but include no offsetting revenue-raisers. In addition, the energy package was not “housing-related,” breaking an agreement that the only amendments eligible for inclusion would be those specifically related to housing. 

When Reid tried to bring up the final package, Ensign blocked it, believing that attaching his energy package to the housing bill was the best way for the energy provisions to be enacted into law.

NAHB worked feverishly to get Ensign to reconsider his stand and to urge Reid to keep the Senate in session until the housing bill passed. Grassroots alerts were launched in Nevada, as well as the states that have Republican senators who are facing tough re-election fights. NAHB also contacted the Nevada governor’s office and spoke with the Nevada Republican House offices.

In addition, NAHB Senior Vice President/Secretary Bob Nielsen, a builder from Reno, Nev., and NAHB Executive Vice President and CEO Jerry Howard went to Ensign’s Capitol Hill office to urge him to reconsider.

Prior to meeting with Ensign, Nielsen was interviewed by Fox Business News and Reuters on his upcoming visit to the Hill and the urgent need to enact stimulus legislation. Howard discussed the same issues in interviews with AP, the Washington Post and Politico.

Unfortunately, Ensign held firm on his position.

A Week-Long Push for the Housing Bill

Earlier in the week, shortly before the Senate began consideration of housing bill H.R. 3221, Howard participated in a press conference with Sens. John Kerry (D-Mass.) and Sherrod Brown (D-Ohio). “We need to pass housing stimulus legislation now to jump-start the economy, save jobs and restore confidence,”  he said.

NAHB sent a letter to senators urging them to invoke cloture on H.R. 3221 so that they could move forward to vote on the measure. Because of the importance of this legislation to help alleviate the current housing crisis, NAHB designated a vote in support of cloture as a “key vote.” Senators subsequently approved the motion by a vote of 83 to 9.

In addition, NAHB ran “An Open Letter to Congress” last week in The Washington Post, USA Today, Roll Call and Politico under the headline, “A Time for Leadership.” In the letter, NAHB President Sandy Dunn called on Congress to complete work on the housing stimulus bill before the Fourth of July. “This is not the time for demagoguery or partisanship. It is the time for flexibility and compromise. It is the time for action,” the letter says. A press release was issued touting NAHB’s all-out push to get housing stimulus legislation passed.

The Next Step

With consideration of the housing bill pushed back, NAHB is busy working to identify any other senators who might try to impede enactment of the legislation.

To that end, South Carolina home builders held a conference call last week with Sen. Jim DeMint (R-S.C.) to explain the immediate need for the legislation and to urge him to work for its expeditious passage.

NAHB is continuing to push aggressively to convince Ensign to drop his objection and remains in talks with key Senate leaders about overcoming any procedural hurdles that might arise when the Senate resumes consideration of the bill.

For more information, e-mail Greg Brown at NAHB, or call him at 800-368-5242 x8421; or contact Scott Meyer, x8144.


 

Sponsored by
McGraw Hill
Construction

 
 
> Get 3D Models for your projects at the Sweets Network!
> Find product catalogs from all leading manufacturers at the Sweets Network!
 
 

Sponsored by
Fannie Mae

 
 
 
 

Sponsored by
NAHB

 
 
> Largest bayfront property in Orange Beach, AL.
> Offered in Sealed Bid Auction.
 
 

Sponsored by
NAHB

 
 
> GM NAHB $500 Private Offer
> Save Up to 30% on UPS Shipping
> Members: Great Discounts on Dell Products