Industry News

Obama Proposes Carbon Taxes But Still No Alternative Energy Plan

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    With almost a Trillion dollars set to be spent in the past 30 days in an interesting conversation with the Prime Minister of Canada before news reporters President Obama proposed that Carbon Taxes be applied to the American Energy Industry but offered no new funding of Alternative Energy.

    The Stimulus plan which was just passed has been said by President Obama to only offer a doubling of alternative energy investments over the previous Bush administration which raised funding to 700 Million …

    High Fuel Prices Are Hurting Building Contractors

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      Over the past year contractors have felt an average increase of 5% on Home Building Materials while associated costs for delivery have reduced profit margins even more.

      In some cases contractors have been able to renegotiate their costs which is adding an average of $15,000 to a new home but for contracts already in place the almost $1 a gallon increase for fuel over the past few months has …

      New Housing Starts Fall To A 17 Year Low

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        The Department of Commerce tracking statistics of new home starts fell approximately 4% in May, 2008 to a 17 year low.  This marks 8 consecutive quarters of reductions in home building.

        Building permits fell about the same amount with the largest reductions seen in the Northeast which had been doing better then most areas in the previous two quarters.

        Rising foreclosure numbers along with price increases due to subcontractors fuel surcharges have kept buyers away from new homes.

        Oklahoma Home Builders Association Adopts National Green Standard

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          Oklahoma’s Home Builder Association is committing early to the National Association of Home Builders Green Building Standard which rates Home Builders on an ansi standards.

          “I can say green building is the future, but the proof is ‘what are you doing?'” said David Ritchie, OSHBA. The renovated state headquarters demonstrates that first step.

          The National standard includes evaluation of many portions of the home including the use of recycled products, fluorescent lighting, energy efficiency and indoor environmental standards.

          To download a free …

          Same Month Home Sales Down For March 2008

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            In what can only be seen as predictable home sales continue falling and reach a 16.5% loss over last year same month sales for March.

            Home owners are seeing more foreclosure properties hit the market as people try to get out of homes that they feel may come under foreclosure soon. All of this and a record over building by new home manufacturers in the past three years has taken a toll on …

            Polybutylene Plumbing class action lawsuit settlement

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              For many home owners with polybutyline pipe in their homes the announcement of a settlement in the replacement and repairs of poorly functioning pipe will be music to their ears.

              The $1.103 billion Settlement of the class action lawsuit was entered on November 17, 1995 but many home owners do not know about how to recover money to cover all of their past costs. 

              The lawsuit was brought on behalf of homeowners with polybutylene plumbing (PB pipe). Eligible homeowners could receive a free …

              Weyerhaeuser Losing Millions as New Home Sales Hit 30 Year Low

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                New Home sales have hit a record low not matched since the Jimmy Carter Administration in 1979-82 when Interest rates were 14 percent and higher for home loans. Weyerhaeuser lost $148 Million so far in first quarter 2008 due to its product line being dependent on new home building.

                Daniel Fulton, President of Weyerhaeuser say they are experiencing a record low production when adjusted for inflation. Total profits were only 48 million dollars and after having higher then expected returns the companies sales are still …

                Home Retail Supply Companies Feeling Economic Hits

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                  Home Depot with aproximately 350,000 employees and 80 billion in sales last year told investors that it will be closing two of its under performing stores this month. The cuts are reported to effect about 1,300 workers in total however the number of employees that work at a single store is far less then this so additional cuts will be made in their support system.

                  This is the first time in the history of the company stores have been closed for this …

                  Foreclosure Rates Up for 2007

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                    As expected 2007 was not a good year for home owners. With foreclosure rates up as high as 80% over 2006 figures approximately 250,000 home owners lost their homes due to missed mortgage payments.

                    Hardest hit were Nevada, Florida, Michigan, California, Colorado, Ohio, Georgia, Arizona, Illinois and Indiana. The states with the least foreclosures were South Dakota, Vermont, Maine and West Virginia.

                    It is expected that in the 2 year period starting in 2007 approximately 2 Million people will lose their homes but there is a …

                    2007 National Remodeling Show – Las Vegas Oct 9-12

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                      2007 National Remodeling Show

                      It’s been 16 years in the making. 16 years of rotating the Remodeling Show from the Northeast to the Midwest, creating a national buzz built on one successful event after another. We’ve created a following of 10,000 dedicated remodeling professionals who understand that to change their business, to reinforce their place in this multi-billion dollar market, they must stay ahead of the curve. In October of 2007, we head to Las Vegas – the city that has …