NBN Online for the week of October 27, 2008

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In This Issue:

Front Page
Housing Stimulus Needed as Downside Risks Pile Up
Economists Upbeat About U.S. Financial Rescue Efforts
Read More in Nation’s Building News — Win a Full IBS Registration
Coast to Coast
Trying for a Bigger Tax Credit
Housing Forum
Letters to the Editor: Nurses Play Vital Role in Aging-in-Place
Indiana Judge Rules Local Park Impact Fees Invalid
Affirmative Minority Marketing Required for FHA Financing
Economics & Finance
New-Home Sales Edge Up in September, But Demand Weak
Economic Picture Darkening for Most Parts of the Country
Fannie, Freddie Economists Say Housing Slump Bottom Is Near
Housing Downturn Could Be Entering Roughest Stretch Yet
Oversupply Slows Multifamily Rental and Condo Markets
David Crowe Replacing David Seiders as NAHB Chief Economist
Useful Links to Monitor Economic and Housing Trends
IBS Education Focuses on Staying Ahead in Tough Market
Register Online for the 2009 Builders' Show in Las Vegas
Sign Up for Designation Courses and Education Sessions at IBS
Learn About Diversifying Into Light Commercial on Nov. 5
Experts to Discuss Finding, Using Alternate Funding Sources
Learn How to Work Through the Credit Crunch With Your Lender
Builders’ Tip: My Personal On-the-Job Hardware Store
More Consumers Want Their Kitchens Connected
Enter Pillars of Industry Multifamily Awards by Nov. 21
Market Realities, Emerging Trends at Pillars Conference
Education Needed to Sell Green Remodeling Jobs
Learn About Lead Paint Rule During Oct. 28 Audio Seminar
Apply for University of Housing Designee of the Year by Nov. 3
Education Calendar
Apply for NAHB SAFE Award by Oct. 31, Application Fee Waived
Green Building
Study Shows How to Combine SIPs Roofs and Concrete Walls
Conference Promotes Trees in Public Spaces
'Option Selling' Can Help Boost Sales, Revenue, Profits
Hispanic Construction Workers Putting Safety First
Building Products
Mohawk Makes Carpet From Plastic Bottles and Corn Sugar
Applications for Endowment IBS Scholarships Due Oct. 31
Submissions for Lee S. Evans Scholarships Due Nov. 21
Association News
HomeAid Reaches Milestone of Serving 100,000 Homeless
EOs, Strengthen Leadership Skills at Nov. 6 Training Conference
Online Registration Open for Spokesperson Training at IBS
UPS Offers Up to 30% Discount to NAHB Members on Shipping
Members, Save 10% at Omaha Steaks When Shopping Online
Williams Scotsman Offers One Month Free Rent, $50 Gas Gift Card
GM $500 Private Offer: Easy as 1-2-3
Save $25 on Hertz ‘Green,’ ‘Fun’ or ‘Prestige’ Weekly Rentals
Calendar of Events
NAHB Career Center

Top Story

Housing Stimulus Needed as Downside Risks Pile Up

Congress should consider providing further “sorely needed” economic stimulus to encourage homeownership and limit foreclosures in order to pull the U.S. economy out of recession, NAHB Chief Economist David Seiders said at the association’s Fall Construction Forecast Conference in Washington, D.C. on Oct. 22.

The steep decline in sales of new single-family homes should be coming to an end in early 2009, Seiders said, setting the stage for “tepid” improvement in new residential construction later that year. However, he warned, that outcome has grown increasingly uncertain in light of the turmoil that has gripped world financial markets.

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Economists Upbeat About U.S. Financial Rescue Efforts

The economy of the U.S. has tumbled into a serious recession, with the world economy close on its heels, but the financial institution rescue efforts of the Treasury and the Federal Reserve should help bring the downturn to an end around the second half of next year, according to economists participating in NAHB’s Fall Construction Forecast Conference on Oct. 22 at the National Housing Center in Washington, D.C.

Maury Harris, U.S. chief economist for UBS, noted that the U.S. government, intent on not repeating the mistakes that led to the Great Depression, is pursuing a range of policies just getting underway that will gradually get credit flowing again to businesses and consumers.


Read More in Nation’s Building News — Win a Full IBS Registration

Click on and read five or more stories in this issue of Nation’s Building News and you automatically will be entered in a contest to win a full registration to the 2009 International Builders’ Show in Las Vegas on Jan. 20-23.

Full registration — $425 for members and $575 for non-members — gives attendees access to four days of exhibits on one million net square feet of exhibit space, all the educational sessions at IBS and new, daily-featured speakers who will give you pointers on how to navigate the downturn.

Continue Reading the Industry News That Is Important to You

There are no forms or paperwork to fill out in this contest. Just read more about what’s important to you and your business in Nation’s Building News each week.

One avid reader will be selected randomly each week through the Dec. 22 issue. So read more in every issue until then to improve your chances of winning — and to put your business in a better position during the downturn.


Housing Snapshot

Interest Rates  
  30-Yr. Fixed: 6.04% 15-Yr. Fixed: 5.72% 5 Yr. ARM: 6.06%
  1 Yr. ARM: 5.23% Libor (3 months): 3.51% Prime: 4.50%
Housing Starts*  (September 2008)
  Total: 817,000 Single: 544,000 Multi: 273,000
Home Sales*  (September 2008)
  New: 464,000 Existing: 5.18 million  
Median Home Prices  (September 2008)
  New: $218,400 Existing: $191,600  
* Seasonally Adjusted Annual Rate


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