The Headlines: September 14, 2017

Ten Home Building industry stories we have read recently:

  • New FHA multifamily mortgage insurance applications halted in Texas disaster areas (expect delays in processing applications across the country). NAHBNow
  • How local housing regulations smother the U.S. economy (and affordable housing). New York Times.
  • Co-borrowing to afford a home is gaining popularity.  Who’s doing it and why?  MarketWatch.
  • Hurricanes Irma, Harvey boost call for flood insurance (renewal of the program).  Orlando Sentinel.
  • 70 percent of Harvey residential flood damage not covered by insurance.  National Mortgage News.
  • A devastating hurricane season exposes America’s flood insurance problem (Senator Tim Scott is quoted).  Time.
  • Labor shortage could hamper Harvey reconstruction.  Houston Chronicle.
  • The last big piece of unfinished business from the Great Recession (Fannie and Freddie).  The Washington Post.  
  • Top ten sources of softwood lumber imports (in short, Canada laps the field).  Eye on Housing.
  • Baby Boomers who refuse to sell are dominating the housing market (55 percent of owner-occupied housing is owned by people 55 years and older, the highest in history).  Bloomberg.

Did you know?  25 percent of all flood insurance policies in the U.S. are written in the state of Florida.

September 14, 2017.

The Headlines: July 27, 2017

Ten Home Building industry stories we have read recently:

  • When builders and Postmasters disagree. NAHBNow.
  • Treasury examines burdensome tax regulations with eye to repeal. NAHBNow.
  • New home sales rise by 2.9 percent in May. Reuters.
  • Existing home sales rebound in May despite record-low supply. MarketWatch.
  • Five years ago, Trump made a prediction on Twitter about housing. He nailed it. The Washington Post.
  • More than half of U.S. renters can’t afford a mortgage. MarketWatch.
  • Could the housing market meltdown happen again? Investors Business Daily.
  • Community banks account for nearly half of residential construction loans. Eye On Housing.
  • Want a $1 million paycheck? Skip college and go to work in a lumberyard. Bloomberg.
  • Top 5 mobile apps for Home Builders. NAHBNow.

July 27, 2017

    Better Homes and Gardens Real Estate ranks Greenville fifth for fun and affordability

    Better Homes and Gardens Real Estate ranked the top 25 cities in the country for affordability and fun.  The website looked at every zip code in the country for the following factors:

    • Median home price is within 20 percent of state median income; and
    • The greatest number of bars and restaurants within the zip code

    The top 5 included

    1. Ocean City, MD
    2. Ala Moana-Kakaako are of Honolulu, HI
    3. Tempe, AZ
    4. Scottsdale, AZ
    5. Greenville, SC

    Other cities of interest include Wilmington, NC (7), Winston-Salem, NC (10), Florence, SC (13), Gainesville, GA (14), Myrtle Beach, SC (15), North Charleston, SC (23), and Athens, GA (24).

    Read the entire report at BloombergBusinessweek by clicking here.

    HUD Secretary says prices are at the bottom

    U.S. Department of Housing and Urban Development Secretary Shaun Donovan says, “it’s very unlikely that we will see a significant further decline” in housing prices. Donovan was quoted in an appearance on CNN. “The real question is when will we start to see sustainable increases. Some think it will be as early as the end of this summer or this fall.’

    According to Donovan, home sales have increased in six out of the past nine months and the number of property owners in default is declining. “Housing prices will begin rising as the number of foreclosures declines. In the long run, it’s a good time to buy. It’s so affordable today compared to where it’s been for generations.”

    Read the entire story at by clicking here.

    New households being formed at the fastest rate since 2007

    Millions of young adults are starting to leave their parents’ homes, creating households at the fastest rate since 2007. They are helping to provide a so-called shadow supply that may boost U.S. housing starts more than 50 percent by next year and spur consumption at a rate almost double that of the past two years.

    Consistent with what NAHB Chief Economist David Crowe told us in March?

    Read the entire report at by clicking here.