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News & Moves: March 15, 2009
The latest on the people and events that shape the housing industry
March 15, 2009
GIANTS
Texas Governor: We’re Faring Better Than Others — The Daily Texan
Texas Gov. Rick Perry addressed the Texas Association of Builders late February, saying that amid the downturn Texas hasn’t been hit as hard as other states.
Do Green Buildings Save Money? — The New York TimesThe debate’s raging that the technology to make greener homes takes too long to pay off.
Fla. County Development Approval Process Hinders Builders — The Tampa TribuneCommissioners want county officials to cut the red tape so that building permits can go forward and work can pick up. County officials say speeding things up won’t improve the housing market.
Home Buyers Want Money Back — KOB-TV AlbuquerqueCustomers hoping for a dream home from Wallen Homes are coming up empty-handed and are speaking up after the firm closed its doors and annulled all contracts.
Yun on New Home Sales — Bloomberg TVNational Association of Realtors’ Chief Economist Lawrence Yun analyzes the new-home sales 10 percent decrease to a record low.
Builder Land Turns into Crime Scene — KOB-TV AlbuquerqueAll the bad news is driving business up for Orland Park, Ill.-based home builder Henry P. Coyle. Coyle credits his father with the knowledge to keep him afloat.
Beazer Faces Delisting Warning — The Atlanta Journal-ConstitutionAtlanta-based Beazer Homes shares have been trading below $1, which may prompt the New York Stock Exchange to issue a delisting warning.
John Laing Homes Files Chapter 11 — BusinessWeekCalifornia-based John Laing Homes filed for bankruptcy protection.
High Expectations for State Tax Credit — San Diego Union-TribuneCalifornia Legislature passed a budget compromise that included a $10,000 state tax credit for home buyers. Home builders in California hope this will get people buying.
C.P. Morgan Bites the Dust — IndyStar.comAfter 26 years in the housing market, home-builder C.P. Morgan shut its doors.
Peachtree Residential Finds Niche — The Atlanta Journal-ConstitutionDave Borreson, CEO of home builder Peachtree Residential, says the firms is putting up luxury infill homes starting at $700,000.
Home Prices Need to Drop, Columnist Says — CBSNews.comThe feds need to stay out of the housing situation, says CBS writer Declan McCullagh, and prices need to fall more.
© 2009, Reed Business Information, a division of Reed Elsevier Inc. All Rights Reserved.