Economic Conditions

Economic Conditions

• Study: Housing Costs Surpass Incomes

  Center for Housing Policy research points to rising cost of insurance, utilities, taxes, and more.

   

• Government Agrees to Bailout

  House votes to approve revised financial rescue package; President Bush signs bill into law.

   

• Senate Saves Bailout Proposal

  House will vote on modified proposal Friday.

   

• Builders Still Fear for Future after Bailout

  The next six months will be tough sledding, but might also present growth opportunities.

   

• With Bailout Uncertain, Builders Share Ideas for Fixing Housing, Economy

  Arizona builder: 'What we need is a dramatic program to reduce foreclosures and keep people in their homes.'

   

• 10 Tips for Competing Against Foreclosures

  Builders have a formidable new competitor on their hands. Foreclosed homes, with a huge price advantage over new ones, are outselling new homes in many markets.

   

• House Refuses to Approve Bailout

  Money will probably become even more difficult for builders and home buyers to borrow.

   

• New-Home Sales Plummet in August

  Pace falls 11.5 percent compared to previous month; time on market rises to median of 8.1 months.

   

• Former Treasury Secretary: Crisis Solution Must Address Distressed Homeowners

  Lawrence Summers, FDIC Chairman Sheila Bair, and others debate bailout at Washington gathering.

   

• Builder Coalition Wants Better Behavior from Banks

  Builders, attorneys, and lobbyists call for banks to stop forcing defaults so they can get at builder assets.

   

• Portland’s Renaissance Homes To File For Bankruptcy Protection

  Agreements with lenders for new financing will allow the builder to operate and continue construction.

   

• Judge Oks Woodside Operations

  California bankruptcy court judge gave Woodside Group permission to continue paying its bills and operating the business as normal during reorganization.

   

• Builders Push Positives at Deutsche Bank Confab

  Several large, public production builders took their turns in the limelight Monday, detailing how they're coping with what some are calling the worst home building market in history and how they plan to thrive coming out the other side.

   

• A Return to the RTC Days?

  Treasury announces plan to stabilize housing and financial markets by buying troubled loans and supporting purchase of more mortgage-backed securities.

   

• Financial Meltdown Will Likely Worsen Housing Crisis For Builders

  Builders should brace for even tighter requirements for business loans, consumer mortgages.

   

• Woodside Files Chapter 11

  Swamped in debt, one of the top 10 private builders in the country files Chapter 11.

   

• Fed Leaves Rates Unchanged

  Many economists had expected rate cut because of current turmoil in financial markets.

   

• Standard Pacific Reports Drop in Summer Orders

  Standard Pacific Homes' net new-home orders for July and August were down 30 percent year-over-year.

   

• Builder Blocks: Sept. 15, 2008

  Fannie and Freddie go federal, J.D. Power releases builder customer service ratings, and residents of Henry Ford's old neighborhood fight back against foreclosures.

   
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  Fast Track 2008: Still on Their Rails

  In a dreadful economy, a handful of builders is finding ways to keep moving forward, profitably.