HBA of Southeastern Michigan
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    Industry News (Sources: NAHB & CNN)

    NAHB Eye on Housing

    Property Tax Collections Total $500 Billion Over Last Four Quarters
    Monday July 6th, 2015 12:43:02 PM Robert Dietz
    According to NAHB tabulations of the Census Bureau’s quarterly data, property taxes constituted 39.5% of state and local tax receipts among major sources over the last four quarters. From the first quarter of 2014 to the end of the first quarter of 2015, sales taxes and individual taxes were responsible for 28% each. At 4.5%, corporate income taxes held the smallest share of state... Read More ›

    For Builders, Labor/Subcontractor Shortage Intensifies
    Friday July 3rd, 2015 11:01:16 AM Paul Emrath
    A survey of single-family builders conducted by NAHB in June 2015 shows that shortages of labor and subcontractors—already quite widespread in mid-2014—have become even more widespread during the past year. The shortages are most acute for basic skills like carpentry, which are needed during the construction of any home.  For example, in the 2015 survey 69 percent of builders reported a... Read More ›

    The Employment Situation in June – Two Steps Forward, One Step Back
    Thursday July 2nd, 2015 05:49:29 PM Robert Denk
    Strong job gains in April and May were revised downward by 60 thousand and the unemployment rate fell 0.2 percentage points based on a reversal of the labor market expansion in May. Overall, the employment situation in June was decent, but the recovery from the weakness in March was less vibrant than originally estimated. The Bureau of Labor Statistics (BLS)... Read More ›

    May Gains for Residential Construction Spending
    Wednesday July 1st, 2015 08:39:15 PM Na Zhao
    NAHB analysis of Census Construction Spending data shows that total residential construction spending for May increased to a seasonally adjusted annual rate of $366.1 billion. On a month-over-month basis, multifamily spending was $48.7 billion, up by 0.2% over the revised April estimate, while the single-family spending was $209.4 billion, an increase of 0.03% from April. Annually, multifamily spending rose 20.8%... Read More ›

    Consumers Voice in June – Optimistic Outlook
    Tuesday June 30th, 2015 09:14:16 PM Jing Fu
    Consumer sentiment and consumer confidence are two indexes showing consumers’ perceptions of current business, income and employment conditions, as well as their expectations for the future’s economy. In June, both the University of Michigan Index of Consumer Sentiment and the Conference Board Consumer Confidence Index rose. These gains reflect continuing improvement in several sectors of the economy. Strong job gains... Read More ›

    CNN - Real Estate News

    Gen-Xers don't want to be homeowners
    Thursday June 25th, 2015 02:33:59 PM
    Millennials aren't the only ones hurting America's homeownership rate.

    Australia is selling a ranch the size of New Jersey
    Thursday June 25th, 2015 01:53:53 PM
    Read full story for latest details.

    What will your monthly mortgage payment be?
    Monday February 2nd, 2015 03:53:13 PM
    In the market for a new home? Or planning to refinance? Find out what your monthly payment will be.

    Jack Ma just bought a huge New York property for $23 million
    Thursday June 25th, 2015 10:23:45 AM
    Alibaba co-founder Jack Ma has paid $23 million for a 28,100-acre property in New York's Adirondacks

    The middle class is struggling to make the rent
    Wednesday June 24th, 2015 01:58:00 PM
    Read full story for latest details.

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