Industry News
Georgia
What would it take for commuters to leave their cars and consider mass transit? was the subject of a recent survey commissioned by the Metro Atlanta Chamber of Commerce. The answer? Make it fast, convenient and reasonably priced. Chamber president Sam Williams said that if the metro area was to fulfill all three of those requirements, up to two-thirds of commuters would consider using mass transit.

The survey was the first to ask respondents about what would attract commuters to transit, rather than where and what transit systems should be built.

The Georgia Regional Transportation Authority (GRTA) is expected to consider survey results  in its decision making processes.

Source: Atlanta Journal Constitution, Feb. 3, 2004

National
With mortgage interest rates remaining historically low, continued strength in the housing market will depend more on improvement in the labor markets, according to the National Association of Realtors® (NAR).

David Lereah, NAR's chief economist, said the 30-year fixed-rate mortgage will move modestly higher this year. "Fixed rate loans currently are around 5.7 percent, but we project a gradual rise to 6.5 percent in the fourth quarter," he said. "As interest rates move up, the strength of the housing market will depend largely on job growth – which we expect to accelerate and drive demand for homes as the year progresses."

Source: National Association of Realtors, Feb. 9, 2004

National
The National League of Cities recently criticized the Bush Administration's budget proposal, calling it a " ... flawed budget that fails to keep our cities strong." The League's president, Charles Lyons, selectman from Arlington, MA, said Lyons said cuts to federal programs like community policing would translate directly into cuts in local services.

The league said a drop in housing and community development funding was a critical concern, and cited a $316 million cut in Community Development Block Grants and eliminating the HOPE VI program.

In a letter sent to Congress last Friday, Lyons said, “Across too many of our cities and towns, there exists virtually no capacity to absorb or compensate for cuts in program budgets.”

Source: National League of Cities, Feb. 3, 2003

New Jersey
In the latest move in Gov. James McGreevey's battle against "sprawl," the New Jersey Board of Public Utilities is trying to make developers developing farmland bear the full cost of gas, electric and water line extensions in the next three years.

Currently builders negotiate the amount they contribute to gas, electrical and water line extensions, and are usually reimbursed for more than half of these contributions as new utility customers are added. The total cost of service expansion to new subdivisions is subsidized by ratepayers in cities and older suburbs. 

“The builder is going to pay 100 percent of the cost of putting in the infrastructure and then turn it over cost-free to the public utilities,” says Builders League of South Jersey executive vice president Rick Van Osten. “So if you are Public Service Electric & Gas or South Jersey Gas you have a nice little gift, courtesy of the governor and the state's home-buyers.” 

Source: Star-Ledger, Feb. 2, 2004 [ return to top ]