Housing Giants - January 15, 2009 - (Page 11) FEATURE NAHB President Jerry Howard wants to make sure green issues don’t lead to regulations that hamstring the industry. the government is already providing massively subsidized mortgage financing relative to the market, through the Federal Housing Administration. Cleveland-based housing analyst Ivy Zelman counters that lower mortgage rates for home purchases are necessary because “builders are on death row and are desperate.” Even some of the biggest builders have been hurt: D.R. Horton, of Fort Worth, Texas, reported a nearly $800 million loss in its fiscal fourth quarter and $1 billion in charges, while Atlanta’s Beazer Homes had a net quarterly loss of $475.2 million, more than triple the loss of a year earlier. In November, Louisville, Ky.-based McStain Neighborhoods announced that it was closing its bricks-and-mortar office, becoming a “virtual operation” and reducing its staff from 90 to 21. But Zelman also believes that lower fixed rates should be made available not only to home purchasers but also for those who are refinancing. By helping owners reduce their payments to more affordable levels, the move would help stop foreclosures and lower inventory levels. SUPPLY: The government reported that the rate of sales of new homes dropped more than 35 percent in November, to 407,000 from a year earlier, the slowest pace in nearly 18 years. Only 28,000 homes sold in November. Although new home inventory levels dropped slightly in November from a month earlier, some economists believe that BOOTH: C4271 2009 SHOW VILLAGE QUIET LIVING HOME MEDIA ENHANCED HOME 11 1.15.09 HOUSING GIANTS www.HousingGiants.com © 2009 Rinnai America Corporation Call 1-800-621-9419 | www.rinnai.us http://www.energystar.gov http://www.drhorton.com http://www.beazer.com http://www.mcstain.com http://www.rinnai.us http://www.rinnai.us http://www.HousingGiants.com
Table of Contents Feed for the Digital Edition of Housing Giants - January 15, 2009 Housing Giants - January 15, 2009 Contents Viewpoint News & Moves M&A The New Administration Housing Giants - January 15, 2009 Housing Giants - January 15, 2009 - Housing Giants - January 15, 2009 (Page Cover1) Housing Giants - January 15, 2009 - Contents (Page 2) Housing Giants - January 15, 2009 - Viewpoint (Page 3) Housing Giants - January 15, 2009 - News & Moves (Page 4) Housing Giants - January 15, 2009 - News & Moves (Page 5) Housing Giants - January 15, 2009 - M&A (Page 6) Housing Giants - January 15, 2009 - M&A (Page 7) Housing Giants - January 15, 2009 - The New Administration (Page 8) Housing Giants - January 15, 2009 - The New Administration (Page 9) Housing Giants - January 15, 2009 - The New Administration (Page 10) Housing Giants - January 15, 2009 - The New Administration (Page 11) Housing Giants - January 15, 2009 - The New Administration (Page 12) Housing Giants - January 15, 2009 - The New Administration (Page 13) Housing Giants - January 15, 2009 - The New Administration (Page 14)
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