National Association of Home Builders
By Carrie Bay | 02/06/2012
The number of housing markets showing measurable improvement expanded by 29 metros in February to include a total of 98 markets listed on the Improving Markets Index from First American and the National Association of Home Builders. The index tracks markets that are showing signs of improving economic health as measured by growth in employment and home price appreciation. Notable additions include Miami and Detroit. Washington, D.C. was dropped from the index this month as it showed a softening in home prices.
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By Krista Franks | 01/12/2012
A group convened on the steps of the South Carolina State House Thursday to express their support of homeownership and opposition to policy changes that might threaten the American Dream. The outlook expressed at the rally mirrors widespread sentiment uncovered in a recent industry survey. About three-fourths of American voters said it is "appropriate and reasonable" for the federal government to promote homeownership through tax incentives.
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By Carrie Bay | 01/10/2012
The number of housing markets showing measurable improvement nearly doubled in January, with the addition of 40 new metros to the Improving Markets Index put out by First American and the National Association of Home Builders (NAHB). The index tracks housing markets that are showing signs of improving economic health based on three independent datasets - employment growth from the Labor Department, home price appreciation from Freddie Mac, and single-family housing permits from the Census Bureau.
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By Krista Franks | 12/12/2011
As the year comes to a close, details of the Middle Class Tax Cut and Job Creation Act are up in the air, and a few housing industry groups are speaking out about one aspect of the act. The Mortgage Bankers Association, the National Association of Home Builders, and the National Association of Realtors together composed a letter to Congress expressing concerns over a proposal to raise Fannie Mae and Freddie Mac's guarantee fees to help cover the cost of extending the payroll tax cut.
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By Krista Franks | 10/21/2011
To the chagrin of some industry participants and the elation of others, the Senate voted in favor of an amendment that would reinstate the heightened conforming loan limits for mortgage loans backed by Fannie Mae, Freddie Mac, and the Federal Housing Administration.
The amendment, introduced by Sens. Johnny Isakson (R-Georgia) and Bob Menendez (D-New Jersey), passed with a 60 to 38 vote. Representatives from the National Association of Home Builders and RE/MAX spoke out in support of the Senate's decision, which still needs approval from the House.
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By Krista Franks | 10/11/2011
Integrated Mortgage Solutions (IMS) now offers a cost-effective, long-term solution to defective drywall, a problem that has plagued thousands of homes, particularly along the Gulf Coast. The term defective drywall refers to a type of drywall that releases sulfur compounds, especially in warm, moist climates. Salvaging a home with defective drywall required major reconstruction to replace all the drywall in the structure, but IMS now offers an on-location solution that requires about one-third of the time and about one-half of the cost of traditional methods.
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By Krista Franks | 09/20/2011
At a Senate hearing titled, "New Ideas to Address the Glut of Foreclosed Properties," industry experts shared varying opinions on the concept of Fannie Mae and Freddie Mac conducting bulk sales of REOs to investors, but most agreed that long-term investors from the private sector should be part of the solution. One analyst with Amherst Securities says investors are the only potential buyers for many distressed homes likely to hit the market over the next five to six years.
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By Carrie Bay | 07/29/2011
What many consider to be a staple of American homeownership is expected to be on the chopping block as lawmakers look to trim the nation's deficit. The prized mortgage interest tax deduction has been part of the federal tax code since 1913. Currently, it costs the U.S. Treasury an estimated $94 billion a year. Congress has tossed around several proposals for amending this part of the federal tax code, including lowering the debt limit to $500,000 on first mortgages. Such a move is estimated to return between $5 billion and $15 billion.
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By Joy Leopold | 12/01/2010
In early November, co-chairs of the National Commission on Fiscal Responsibility and Reform released a draft of a proposal that suggested significantly reducing mortgage interest tax deductions. The final proposal was released Wednesday amid much controversy.
The details of the draft have been circulating for weeks, and while the proposal has received some support, there has been strong opposition to such drastic measures in such uncertain and unstable times for the housing market.
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By Carrie Bay | 11/11/2010
Members of the commission created by President Obama to shrink the federal deficit published a proposal this week that would significantly scale back the mortgage interest tax deduction. One recommendation would reduce the deduction amount by 20 percent. The second calls for the exclusion of second residences, home equity loans, and mortgages over $500,000.
The proposal has drawn criticism from industry groups who say now is not the time to wrench incentives from a housing industry struggling to get back on its feet.
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