Housing Giants - November 10, 2008 - (Page 11)

tHe Housing industry and tHe new president How are home builders reacting to the outcome of the election? We’ll give you an overview in the Nov. 24 edition of Housing Giants. Stay tuned. hit bottom in March 2008 at $22,554.05. Then it spiked dramatically until August. But now it’s plunging again. “OSB (oriented strand board) manufacturers have set a floor on their pricing. Rather than go any lower, they’ll just shut down production,” says Ro-Mac vice president Don Magruder, who doesn’t see prices going up. In fact, it is the loss of production capacity that worries Magruder. “If we get a sudden turnaround in home sales, all bets will be off. The capacity is not going to be there to meet a surge in demand. That will drive prices up fast.” However, Builder Partnerships CEO Glenn Singer (who spent 43 years in home building products manufacturing) says he doubts product prices will spike even when the market turns. “Most manufacturers have shut down production lines, but they’ll be able to fire up that capacity within 45 days or so. The housing market is not going to turn so fast that shortages of supply drive a price spike,” Singer says.— Bill Lurz exCel homes hires direCtor of sales Eric Merling will take the reigns as director of sales for the AvisAmerica team at modular home manufacturer Excel Homes, based in Camp Hill, Pa. Merling comes with 19 years of experience, recently serving as vice president of sales and marketing with Coachmen Industries RV and All American Homes. He previously worked with Westchester Modular Homes. www.Housinggiants.com Credit plight Continues One home builder in New York is struggling to get bank loans for new construction and site development, a plight many builders are facing. In a development by Eldan Homes, The Hamlet, two specs and two lots remain unoccupied because of struggles to get the loans. Watch the news clip from WSYR-TV Syracuse to hear the story. Watch Video 11.10.08 Housing giants 11 http://www.osbguide.com http://www.builderpartnerships.com/ http://www.excelhomes.com http://www.clipsyndicate.com/publish/video/729366/lending_squeeze_on_homebuilders_10_24_08 http://www.clipsyndicate.com/publish/video/729366/lending_squeeze_on_homebuilders_10_24_08 http://www.housinggiants.com

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