NBN Online for the week of May 4, 2009

Lost Wealth Won’t Keep 50+ Home Buyers Down for Long

Reeling from a sizable decline in wealth as a result of the current downturns in housing and the financial markets, members of the baby boom are in a bit of a holding pattern for now, but will gradually make their way back into the housing market, eventually in a big way, according to panelists at NAHB’s Building for Boomers and Beyond 50+ Housing Symposium in Philadelphia April 27-29.

Builders at the conference reported that selling an existing home has become a major stumbling block for households who would like to move to an active-adult community either restricted or targeted to 55+ residents. For the most part, however, this segment of the market is performing no better or worse than the housing market overall, which is generally sluggish and just beginning to emerge from the grips of the most painful slump in decades.

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Lumber Prices Provided by Random Lengths

‘Get Housing Moving’ Tour Hits Sales Goal in 53 Days on the Road

Setting an example for home builders coast to coast who face the challenge of communicating with prospective home buyers about the advantages of making a purchase in today’s marketplace, John Wieland, chief executive officer and founder of leading Southeast home builder John Wieland Homes and Neighborhoods, on April 30 wrapped up his “Get Housing Moving” tour with the sale of his 101st new home and more than $42 million in sales.

Wieland pledged to sleep on the floor of his unsold homes until he reached his sales goal, a feat he accomplished 53 days into his tour with the sale of a home to Mr. and Mrs. Jason Patton in the Green River neighborhood in Canton, Ga.

NAHB Members Urged to Take Precautions Against Swine Flu

The recent outbreak and rapid spread of cases of swine flu across the U.S. poses a safety risk to home builders, their employees and subcontractors — especially those in states where cases have already been identified or whose workers have traveled to or from Mexico recently. As of May 4, there were 286 confirmed cases in 36 states and one death.   

NAHB is urging members, home builders associations and their employees to learn how to recognize the symptoms of swine flu, and what precautions you can take to protect yourself.