The National Association of Home Builders released their Improving Market Index. This index was started a couple of months ago by NAHB and First American. This index hasn’t hit upon the Twin Cities area yet, primarily because we are not an improving market yet… I do want to keep an eye on this because eventually we will be showing up on this index, hopefully.
Here is a pretty good video explaining the latest index results from NAHB. NAHB: October 2011 Improving Market Index.
Basically, the improving markets are in Energy Producing areas (a.k.a. oil drilling). So this is further evidence our biggest struggle is jobs, not inventory.
click to enlarge
October 6, 2011 – The second edition of the National Association of Home Builders/ First American Improving Markets Index (IMI), released today, shows 23 individual housing markets now qualifying as “improving” under the new gauge’s parameters. This is nearly double the 12 housing markets that made the list last month.
The index reveals metropolitan areas that have shown improvement for at least six months in housing permits, employment and housing prices. The following metros were listed in October:
- Alexandria, LA
- Amarillo, TX
- Anchorage, AK
- Bismarck, ND
- Casper, WY
- Fairbanks, AK
- Fayetteville, NC
- Houma, LA
- Iowa City, IA
- Jonesboro, AR
- Kankakee, IL
- McAllen, TX
- Midland, TX
- New Orleans, LA
- Odessa, TX
- Pine Bluff, AR
- Pittsburgh, PA
- Sherman, TX
- Sumter, SC
- Waco, TX
- Waterloo, IA
- Wichita Falls, TX
- Winston-Salem, NC
“Both the number and geographic diversity of improving housing markets expanded this month, with Iowa, Illinois and South Carolina all newly represented by one entry or more on the list,” said National Association of Home Builders (NAHB) Chairman Bob Nielsen, a home builder from Reno, Nev. “This is further evidence that, despite the tough conditions that persist in many cities, pockets of improvement are emerging in local housing markets across the country.”
Image via Wikipedia
Saw this article from the Wall Street Journal. Apparently the Labor Department is going after Residential Homebuilders for overtime and minimum wage violations, which to me sounds like they are really targeting the sub-contractors and their status of sub-contractors.
Sounds like a political witch hunt to me. Most homebuilders use sub-contractors not employees to do the trades, I wonder if they are hoping to snare sub-contractors that do a large portion of their business with one home-builder as “employees” not sub-contractors.
The Leading Builders of America, an association of 19 major home builders, called the document demands overly broad and said the inquiry was “especially troubling given that no issues have been identified to warrant an investigation.”
“These demands could require significant resources and thousands of hours of work,” the association said in a statement.
The last line in the article I think sums the whole article up:
Many construction unions have urged the Labor Department to crack down on wage violations in part to embarrass nonunion contractors that unions hope to organize.
Read Full Article
I am really curious on how the Builders Association of the Twin Cities (BATC) and the National Association of Home Builders (NAHB) will respond to this.
I discovered an interesting study conducted by the National Association of Home Builderson the County Property Tax rates. They conducted this study based off of 2005-2009 property taxes throughout the nation. This data probably reflects some errors as I know my property taxes have gone up since 2009, but it is still an interesting illustration of effective property tax rates.
Median Property Tax
- Median Tax Rate per $1000 of value
If you are anything like me, you are asking yourself right now: Why did I choose to live in the highest taxed County?
This data is a little out of date being that it is from 2005-2009 and property taxes are continuing to climb. It does however show where you might want to move to in the metro area to pay the least amount in property taxes..
If you are curious on the county property taxes for the entire country, goto NAHB’s sudy