NAHB offers $25 off IBS registration in October

From now through October 31st, NAHB members and non members alike can save $25 off registration for the 2011 NAHB International Builders’ Show. This discount can be used for both exhibits only and full registrations*. That means an NAHB member purchasing an exhibits only pass will pay just $25!

When registering enter and activate Promo Code: TNAH25 on the Registration page.

*Offer valid for all paid registration options with the exception of exhibitor, student, faculty and spouse registration. Good for new registrants who register online between October 20—October 31, 2010.

To register for the International Builders Show, click here.

U.S. Monthly House Price Index Increases .4 percent

U.S. house prices rose 0.4 percent on a seasonally adjusted basis from July to August, according to the Federal Housing Finance Agency’s monthly House Price Index. The previously reported 0.5 percent decline in July was revised to a 0.7 percent decline. For the 12 months ending in August, U.S. prices fell 2.4 percent. The U.S. index is 13.6 percent below its April 2007 peak.

Read the entire release from FHFA by clicking here.

SCHBSIF Announces Rate Decrease

The S.C. Home Builders Self Insurance Fund, a workers comp insurance company that write policies exclusively for members of the Home Builders Association of South Carolina, has announced two moves that will reduce costs for home builders.

The Board of Trustees of the SIF has voted to reduce rates effective January 1, 2011, by an average of 5 percent. All rates will be reduced but the reduction will vary by class code.

In addition, the SIF has reduced minimum premium amounts. Also effective January 1, 2011, the annual minimum premium will be decreased from $1,200 to $900. In addition, the monthly minimum premium payment will no longer be required. The annual minimum premium will still apply.

"All of these changes will help home builders navigate this difficult downturn in the housing market," Tom Dillard, president of the HBA of Greenville, said.

Greenville City Manager to Speak to HBA Members

The Legislative Committee of the HBA of Greenville will host a Government Affairs Forum on Wednesday. The speaker will be City Manager John Castile of the City of Greenville. Castile will discuss the city and steps he has taken in his new position to improve the city. The meeting is open to members of the HBA. You can read Castile’s bio by clicking on this link.

What: Government Affairs Forum
When: Wednesday, October 27, 8:30 a.m.
Where: HBA of Greenville Office, 5 Creekside Park Court, Greenville
Sponsor: Quinn-Satterfield

Coffee and Danishes will be provided compliments of our sponsor, Quinn-Satterfield. Please plan to attend.

It is not about supply and demand...it is about who can get a loan

"The fundamentals today are financial fundamentals," Everett Allen Greer, managing member of Greer Advisors in Los Angeles, said. "They have nothing to do with supply and demand. ... It’s everything to do with who can get a loan and who can’t."

Read the rest of the article in the Charleston Regional Business Journal by clicking here.

Former Fed Vice Chair Sees Stronger Growth Coming

From Nation's Building News:

Economic growth will pick up next year and even more after that as headwinds standing in the way of a stronger recovery begin to abate, former Federal Reserve Vice Chairman Donald Kohn told the Urban Land Institute in Washington, D.C. on October 15.

Painting a picture that was not entirely rosy, "we are in for a slow climb out of a deep hole with inflation remaining low for some time into the future," said Kohn, who is currently a fellow at the Brookings Institution.

Among the challenges still facing the economy, he said that lending requirements remain stringent and borrowing is very tight for small businesses and households; it will still take time to work through the overhang of housing from foreclosures, short sales and the shadow inventory; and the economies of major industrial trading partners of the U.S. are still hurting.

Read the entire article in Nation's Building News by clicking here.

FDIC Chair Says Restoring Health of Real Estate "Crucial"

Nation's Building News Report:

Federal Deposit Insurance Corporation Chairman Sheila Bair on October 13 cited encouraging signs for housing but also indicated that recovery of the real estate sector will take time and that the home finance system will have to be restored and taken off government life support.

"The economy is now recovering, but progress is slow, and the effects of the recession — including high unemployment — are likely to persist for some time," said Bair.

"Once again, the health of the real estate sector will be crucial in determining the path of the entire economy," she said. "Restoring stability and normalcy to residential and commercial real estate markets will be essential to establishing a more robust economic recovery. But we still have a lot of work to do to repair our system of mortgage finance."

Read the entire article in Nation's Building News by clicking here.