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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NAHB launches consumer site on mortgage deduction debate
NAHB has launched a newly-designed consumer-oriented website, www.SaveMyMortgageInterestDeduction.com, to provide up-to-date information on the threat to the mortgage interest deduction. The site contains fact sheets, frequently asked questions, statistics, and other information to allow consumers to stay informed as debate on the mortgage interest deduction moves forward.
Census Bureau: U.S. construction spending on the rise
Construction spending rose slightly in November, increasing to a seasonally adjusted rate of $810.2 billion, according to Census Bureau data. The rate is 0.4 percent higher than the revised October rate of $806.7 billion. Construction spending for the first 11 months of 2010 totaled $753.9 billion, 10.6 percent less than the same period in 2009.
NAR report: Pending home sales continue to increase
The National Association of Realtor’s (NAR) Pending Home Sales Index continued to increase in November, rising 3.5 percent since October.
Government struggles to decide on Fannie and Freddie's future
The future of mortgage giants Fannie Mae and Freddie Mac hang in the balance as the federal government struggles to determine whether it should continue to guarantee mortgages after the market stabilizes.
U.S. home prices rise in October
Homes prices across the U.S. rose between September and October, although prices remain lower than in October 2009.
Group urges regulators to create standards for mortgage-servicing industry
A group of analysts, academics and investors signed a letter urging regulators to create nationals standards for the mortgage servicing industry, the Wall Street Journal reported.
Rising mortgage rates cause surge in first-time buyers
Rising mortgage interest rates have reignited first-time home buyers’ interest in purchasing a home over the last several months, UPI reported. The rates for 30-year fixed-rate mortgages began to rise from record lows this fall, increasing from 4.17 percent to 4.83 percent between November and December.
Americans maintain positive attitude about homeownership
Despite the recent housing crisis, most Americans still desire to own a home, but their attitudes may not line up with financial realities, CNN reported. A survey by Fannie Mae found that more 51 percent of people polled said the housing crisis did not change their desires to buy a home. Twenty-seven percent said that they were even more likely to buy because of the crisis.
Construction material prices rise nearly five percent since last year
Construction material prices have risen in the last year, while finished-building price indexes remained flat, adding additional financial stress to builders and contractors already facing the effects of high unemployment. An analysis by the Associated General Contractors of America reported that material prices rose 0.5 percent in November and 4.8 percent in the last year. The producer price indexes rose 0.4 percent in November, and 3.5 percent in the last year.
Report: Mortgage modification program won’t meet goals
New congressional report says program will fall well short of original target