Financials
Financials
Business financials advice, reports, and trends for professional home builders and remodelers.
Business
4 Steps to Prep Your Business for Contraction
How a remodeling company plans ahead for the worst of times (and the best of times)
Leadership
Creating a Company Fire Drill: How to Prepare for the Worst
A disastrous fire could have been a lot worse if the business wasn’t prepared for the unexpected
Women at WIRC
The Fundamentals of Growing Profitably
On this episode of Women at WIRC podcast, Nip Tuck Remodeling Owner April Bettinger shares how she plans for her company's profitable growth
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Consumer bankruptcies down 10 percent from last year
Another positive sign for construction industry as homeowners clear their balance sheets
WSJ: Banks Face $17 Billion in Suits Over Foreclosures
The nation's major banks could be facing at least $17 billion in lawsuits because of improper foreclosure practices, a group of states' attorneys general said Tuesday
Report: Gov't Mortgage Modification Program Falling Short of Goals
Although thousands of homeowners have gotten mortgage modifications under the Making Home Affordable program, it's still well short of the millions the Obama administration hoped to help with the program
For-sale inventory increases in some metropolitan areas
The inventory of homes for sale rose slightly in March in many metropolitan areas across the nation. According to data compiled by ZipRealty, the listing inventory rose 1.1 percent in 23 metropolitan areas between February and March, after decreasing in both January and February.
Obama signs 1099 repeal into law
A new tax requirement that would have required businesses to file more 1099 paperwork was repealed last week by President Obama. The tougher requirements would have mandated companies to file a 1099 for any individual or company they do more than $600 of business with in a given year.
Banks ordered to repair foreclosure processes
Bank of America, Wells Fargo, and JP Morgan Chase were among 14 financial institutions to receive penalties last week from the federal government for improper foreclosures. The banks were also ordered to revise their foreclosure procedures. Actions include having enough staff to handle the volume of foreclosures and establishing a single point of contact for borrowers.
Study: 81 percent still think home is best investment
Despite the housing bubble and subsequent crash, more than 80 percent of Americans still think buying a home is the best long-term investment a person can make. That's according to a recent Pew Research Center study, which found that 37 percent strongly agreed with that idea and 44 percent somewhat agreed with it.
Construction employment sees slight improvement
Construction employment saw an uptick in February, as 141 out of 337 metropolitan areas had increases in construction jobs compared to one year earlier, according to an analysis of federal employment data by the Associated General Contractors of America. Dallas-Plano-Irving, Texas, had the largest increase in jobs, adding 7,500 (8 percent).
Private residential construction spending declines
Residential construction spending dropped in February, with home improvement spending leading the decline, after an unexpected increase in January.