TRENDS, NUMBERS, REGULATORY ITEMS
AP Stress Index confirms easing of recession
Source: Associated Press/AP OnlinePublication date: June 8, 2009
By MIKE SCHNEIDER and JEANNINE AVERSA
The recession's grip appears to be loosening as seasonal hiring picked up this spring. That's the conclusion of the Associated Press' monthly analysis of the economic pain in more than 3,100 U.S. counties.
The latest results of the AP's Economic Stress Index show the free fall that marked the autumn of 2008 and winter of 2009 gave way in April to a more controlled descent, possibly even a bottom. Still, the analysis found that pain remains high compared with year-ago levels. Read more.
Builders Fear Consequences of New Appraisal Law
Source: BIG BUILDER NewsPublication date: June 8, 2009
By Sarah Yaussi
It's been little over a month since the switch was flipped on the Home Valuation Code of Conduct (HVCC), and many builders are still unsure as to what the new rules mean for their business. However, many believe any regulatory change spells disruption.
The new code, a pet project of former HUD secretary Andrew Cuomo, was an attempt to secure the independence of real estate appraisers, who, say the code's supporters, have been under continual pressure from lenders, mortgage brokers, real estate agents, and even home builders to inflate values. Under the new code, lenders have set up firewalls between their loan departments and their either internal or third-party appraisal services if they wanted be able to sell the loans on the secondary market to either Fannie Mae or Freddie Mac. Read more.
A Housing Recovery: Not So Fast
Source: Business WeekPublication date: June 8, 2009
By David Bogoslaw
Stocks of homebuilders have had an impressive run recently, thanks to a stream of improving macroeconomic data, including home sales and consumer confidence, climbing an average of 38% since March 9. But will the recovery last? Recent gains in long-dated U.S. Treasury yields augur rising mortgage rates, while the likelihood of increasing foreclosures could further bloat the housing supply in the months ahead. Read more.
U.S. Lumber Production Falls 28% in 1Q09
Source: PROSALES Information ServicePublication date: June 5, 2009
Lumber production across the United States in the first quarter fell 28.3% from the year-earlier period to total 5.47 billion board feet, the Western Wood Products Association (WWPA) reported. Meanwhile, production in Canada slid 24.9% in the same period to total 4.64 billion board feet. Read more.
HUD revises rules for stimulus money
Source: Associated Press/AP OnlinePublication date: June 3, 2009
By KEVIN FREKING
Federal officials have lowered the threshold that the nation's public housing agencies must meet to get some of the stimulus money set aside for new roofing, plumbing and other renovations. Read more.
Showing posts with label Department of Energy. Show all posts
Showing posts with label Department of Energy. Show all posts
Tuesday, June 9, 2009
Monday, April 13, 2009
NLBMDA ALERT: Department of Energy Releases Details on $8 Billion in Stimulus Weatherization Grants
An Alert from NLBMDA
DOE recently announced it will invest nearly $8 billion in state and local weatherization and energy efficiency efforts as part of the recent stimulus legislation (The American Recovery and Reinvestment Act). The funds will be divided between the Weatherization Assistance Program, which will receive nearly $5 billion, and the State Energy Program, which will receive up to $3 billion. DOE says this will help families save hundreds of dollars every year on their energy bills, while creating approximately 87,000 jobs. To jump-start the job creation and weatherization work, DOE is releasing $780 million in the next few days, and will release more as the states demonstrate that they are using the funding effectively.
The State Energy Program funding will be used to provide rebates to consumers for home energy audits or other energy-saving improvements; to develop renewable energy and alternative fuel projects; to promote Energy Star products; to upgrade the energy efficiency of state and local government buildings; and other innovative state efforts to help families save money on their energy bills. The weatherization funding will improve the energy efficiency of the homes of low-income families by adding more insulation, sealing leaks, or modernizing heating and air conditioning equipment, at a cost of up to $6,500 per home. The energy efficiency upgrades will be available for families making up to 200% of the federal poverty level. For a family of four, this translates to about $44,000 per year in the lower 48 states, $55,140 per year in Alaska, and $50,720 per year in Hawaii. See the Weatherization Assistance Program Web site and the State Energy Program Web site.
It is important to note that all assistance is disbursed through the states and local governments. This is not a direct grant program from the federal government to consumers. The best guidance for consumers that want to apply for weatherization assistance can be found on this site.
DOE recently announced it will invest nearly $8 billion in state and local weatherization and energy efficiency efforts as part of the recent stimulus legislation (The American Recovery and Reinvestment Act). The funds will be divided between the Weatherization Assistance Program, which will receive nearly $5 billion, and the State Energy Program, which will receive up to $3 billion. DOE says this will help families save hundreds of dollars every year on their energy bills, while creating approximately 87,000 jobs. To jump-start the job creation and weatherization work, DOE is releasing $780 million in the next few days, and will release more as the states demonstrate that they are using the funding effectively.
The State Energy Program funding will be used to provide rebates to consumers for home energy audits or other energy-saving improvements; to develop renewable energy and alternative fuel projects; to promote Energy Star products; to upgrade the energy efficiency of state and local government buildings; and other innovative state efforts to help families save money on their energy bills. The weatherization funding will improve the energy efficiency of the homes of low-income families by adding more insulation, sealing leaks, or modernizing heating and air conditioning equipment, at a cost of up to $6,500 per home. The energy efficiency upgrades will be available for families making up to 200% of the federal poverty level. For a family of four, this translates to about $44,000 per year in the lower 48 states, $55,140 per year in Alaska, and $50,720 per year in Hawaii. See the Weatherization Assistance Program Web site and the State Energy Program Web site.
It is important to note that all assistance is disbursed through the states and local governments. This is not a direct grant program from the federal government to consumers. The best guidance for consumers that want to apply for weatherization assistance can be found on this site.
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