February 2007

Inside Veritas -
Article 1 - 10th Annual BAMF "Exhibitors Night" opens at 4:00 p.m.
Article 2 - Existing Housing Market Activity
Article 3 - Preliminary data suggest county slumped to just over 800 units
Article 4 - Thanks Jennifer!!! Granholm veteoed forced "Con-Ed"
Article 5 - Taxation and Finance by Rachor; Purman & Tucker CPAs
Repair or Improve? A taxing issue
Article 6 - Ford opens 2007 as #4 "U.S." company
Association News Update
New Construction and Sales Activity
BS: Still about Nothing in particular
Would you like to see a previous Veritas Issues? Click Here

10th Annual BAMF "Exhibitors Night" opens at 4:00 p.m.

One of the most successful and enjoyable evenings of the year is set for Wednesday, February 28th, as our 10th annual Exhibitors’ Night opens at its new location with thirty-six displays of building & business products and services. While the ‘07 event will be held at “Brookwood” for the first time, the overall event will remain the same as recent years, when it’s attracted an average of 240 members and guests.
In other words, our special buffet (Brats; Burgers; Pizza) will remain in order, along with complementary beverages (beer, wine & soft drinks) throughout the evening, will continue. And, if history holds true, there will be a number of incredible door prizes donated by exhibitors.
The evening begins at 4:00 p.m. and runs through 7:00. So, plan to attend on the 28th, and please RSVP by noon on Wednesday, February 21st, so we can assure enough food and drink.
Note: There were three tables (only 6 footers) remaining as of Thursday, February 8th, so there may be availability for exhibitors: Call 810-603-2200 if you’re interested.

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Existing Housing Market Activity

The preliminary year end report from the National Association of Realtors has existing home sales declining by 595,000 units (8.4%), with the annual median price rise of 1%, to $222,000. What’s interesting is the December rise in median price, after four consecutive months of prices, not only falling, but hitting below their year earlier level. We point this out because in recent months we’ve found prices are revised downward a month after being reported, but with little, if any media attention.
Thus, it’s conceivable that, at the end of February, we’ll find that December’s median price was, in fact, below December ‘05.
What’s going to be more interesting will be the Realtors’ report (expected in April) regarding the market share of 2nd (vacation and investment) homes. If, as we anticipate, the share of sales falls from the 40% range to the low-mid 30s, it would show the traditional housing (shelter) market actually held steady in ‘06, at least on a nationwide basis.
The realtors also reported the usual decline in inventory during December, down 300,000 units (7.9%). However, with lackluster sales at a rate of 6.2 million units, off nearly 8% from last December, no one’s kidding themselves by thinking sales made a dent in inventory. It’s merely that homes don’t normally go on the market during the Holiday Season.
State and Local
Well, we’ve got the year end data from the Michigan Association of Realtors, and, while the numbers may not be pretty, they could have been a lot worse.
Sales were off 13.6% across the state, and 13.4% locally. However, while prices fell 2.3% in Michigan, it was a far different story in the Southeast sector, as average price declines ranged from 2.9% in the Ann Arbor area to 11.7% in Detroit. Genesee and Macomb Counties were also hit in the 10% range.
Of course, while we may make the point that the report isn’t “pretty,” we must recall that “beauty is in the eyes of the beholder,” and many a “beholder” capitalized on the “buyers’ market” of 2006. While there were many reluctant to sell their existing homes as prices below what they thought it worth, many took advantage, understanding they would save more on the home they were buying than they’d lose on their sale. After all, a 10% saving on a $200,000 home is greater than a 10% loss on $125,000.

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Preliminary data suggest county slumped to just over 800 units

The last time Flint area housing starts hit the 800 level, we were thrilled. But that was back in 1992, and expectations have been altered dramatically.
Now that we look at comparable numbers last year, there’s little reason to cheer.
With the early sets of data in, it appears that local permits for single family and condos fell 55% last year, to right around 820 units. Although we lack confirmation on a couple of discrepancies, we find Davison Township as the leading municipality with 115 (we have been showing it down much more due to the misclassification of a condo development as apartments), followed by Grand Blanc with a total of 113, off 61.6% from its 2005 level of 294 (and 76% below its recent peak year of 465 in ‘02).
However, the biggest declines (percentage-wise) of the county’s major housing producers were in Vienna Twp. (73.8%), Burton (71%) and Mundy Twp (69%). The combined activity in the 3 municipalities fell from 431 to 127 year over year. The same communities totaled 538 homes in 2003.

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Thanks Jennifer!!! Granholm veteoed forced "Con-Ed"

Just as we were putting last month’s Veritas in the mail, we received word that legislation to force builders to take Continuing Education courses to maintain their licenses was vetoed by the Governor. As many of you know, your local Builders Association was opposed to the concept of “Con-Ed,” which was fully supported by the Michigan Association (and most locals).
Mandatory continuing education has been a priority of MAHB for 12 years. However, through 2002 it was not a realistic option because then Governor Engler refused to support an expansion of the state’s bureaucracy.
Subsequently, with term limits bringing a legislature with limited (if any) ideological integrity, MAHB was able to pass the bill on the final day of the legislative session.
Fortunately the bill was encumbered with so much junk (including 3 levels of licensed builders) it would have created a proverbial nightmare for the most die-hard bureaucrat. Consequently, the Governor provided her necessary veto.
However, though the “bullet” was dodged, it was only temporary ... the concept is already an MAHB “priority” for the current legislative session.
Now, you may ask why would a Builders’ Association want to place an additional burden on its members? Well, there’s money to be made in education, especially when mandated!

2-8-07 Wall Street Journal shows housing's predicament

Seldom do we see 3 unrelated stories in one publication that point to the same issue. But this Thursday’s “Wall Street Journal” did just that, and it clearly shows the predicament of the nation’s housing market.
A page #1 story told of HSBC Holdings’ “surprise announcement” that the capital it must set aside to cover bad debts would be $1.76 billion higher than previous estimates. The problem primarily stems from purchasing “billions of dollars in sub prime” mortgage loans from U.S. lenders which were going bad.
HSBC, the world’s third largest bank, discovered its screening method of borrowers for assessing the “default risk was flawed.” So, it finds itself with bad loans on homes that aren’t worth the outstanding debt.
Next came an article about the difficulty homeowners trying to refinance the $1.3 trillion, or so, in ARMs that face rising rates in 2007. Some are hit by prepayment penalties that would force them to come up with thousands they don’t have, while others are deterred by tighter lending practices due to falling home values.
So, as payments rise dramatically, many may find there’s no way out but to add to the growing foreclosure rate.
And, finally, an article about the “Glut of Home Supply” deterring price growth told of the 18 metro areas where inventory grew an average of 2.55% in January. What’s notable about the article is the point that “inventories of previously occupied homes typically increase in January as sellers who took their properties off the market during the holidays try to get an early start on spring.” And, as we note above, inventory did decline 7.9% across the nation in December. But it also points to the Census Bureau data showing 2.1 million homes being vacant and for sale in last year’s 4th quarter, suggesting the vacancy rate for owner occupied housing rose 35% over the past year.
When we couple the Census Data with the realtors’ report that 39.6% of all homes sold in 2005 were for investment or vacation purposes it, and the other two articles, clarify what we’ve been writing about for the past 18 months: The housing price “boom” of the early 2000s was based on artificially low costs to the buyer, and like traditional investments, is subject to severe decline.

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Taxation and Finance by Rachor; Purman & Tucker CPAs
Repair or Improve? A taxing issue

Given a choice between deducting an expense on their current year's tax return or spreading it out over several years, taxpayers, in most situations, would choose the former. So it's no surprise that taxpayers who own rental properties and commercial buildings want to distinguish currently deductible repair and maintenance expenses from amounts that must be capitalized and depreciated as property improvements.
Much To Gain
Where large sums are involved, stakes can be high. The depreciation period for residential rental property is 27.5 years. It's 39 years for a nonresidential building. Taking into account the time value of money, a taxpayer has much to gain by classifying expenditures as repair and maintenance expenses whenever the tax rules permit.
Fewer Controversies?
The repair versus improvement issue’s been a frequent source of controversy between taxpayers and the IRS. Last August, the IRS issued proposed regulations that address it. Although the regulations won't take effect until after they are finalized, they reveal current IRS thinking.
Here's a brief overview.
Bldg. construction or erection
Under the proposed regulations, amounts paid to construct or erect property are treated as production costs that have to be capitalized if the property has useful life extending substantially beyond the taxable year.
Improvements. Dollars paid to improve a unit of property must be capitalized. Proposed regulations define "improvement" as a material increase in value, which would occur when the work is performed before the unit of property is placed in service or when the amount paid:
·Ameliorates a condition or de-fect that existed before the property was acquired;
·Adapts the property to a new or different use;
·Results in a betterment or material addition to the property, or,
·Results in a material increase in capacity, productivity, efficiency, or quality of output.
Cost segregation A building and its structural components generally are considered one unit of property under regulations. But if the cost of a building component (an electrical system, for example) is segregated so that the component can be depreciated more quickly than the building itself, the component is treated as a separate unit of property in determining whether the amount spent on an overhaul results in a material increase in value, thus requiring capitalization.
Repair allowance method. At their option, taxpayers can treat most amounts paid for repairing, maintaining, or improving property as deductible costs to the extent they don't exceed a repair allowance specified for that type of property. Amounts in excess of the allowance would have to be capitalized. Certain costs would be ineligible.

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Ford opens 2007 as #4 "U.S." company

While auto sales got off to a rough start in general, January data may be considered a “disaster” for the U.S. industry. As total sales fell 4.6% to 1.09 million (compared to last January), GM and Ford saw sales tumble 17.5% to 410,300, just 37.6 percent of the total U.S. market, with the historical “#2” auto maker falling all the way to 4th place in sales with just 15.2% of the nation’s market share.
Of course, with Ford’s big decline (and despite Chrysler’s slight rise in sales and large jump in market share), Toyota is, at least for the 1st month, the second leading vehicle seller, after a 9.5% increase over 2006’s January rate. However, its nearly 176,000 vehicles sold barely beat Chrysler for the number two spot.
If there’s a real concern regarding last month’s sales, it could be GM. However, some analysts feel that the number “one” auto maker merely miscalculated on the impact of cutting incentives. As it turned out, GM’s “buyer incentives” were at the lowest level since April 2002, which likely had some responsibility for its lackluster sales’ activity.
Still, there was one particular item in the January report that we couldn’t help but find amazing: When we eliminate trucks and SUVs, we find Toyota’s car only sales were just 3,900 (3.75%) behind GM’s. At a time gas prices are back on the rise, that’s what may be the real story of ‘07’s sales numbers.

** Ford’s other companies had their problems as well as their “mother:” Jaguar’s down 12.9%; Volvo’s off 12% and Land Rover’s down 7%. Lions? Idle of course (after all, January’s playoff time).

Barry

Beyond Seinfeld: It�s still about "Nothing" in particular

'Vasectomy Housing' surge in New Jersey

The headline on a Bloomberg News report, “Vasectomy Housing Surges as New Jersey Tax Remedy” couldn’t help but catch our eye, imagining a plan to cut growth of welfare recipients by offering housing incentives to fathers who have vasectomies. Well, it turns out that the state’s communities are merely discouraging new traditional developments and encouraging developers who build “age- restricted” housing.
The article notes that it costs $12,567 annually, on average, to educate a New Jersey child, “the highest in the nation,” and more than double the typical property tax parents typically pay. So, communities around the “Garden State” are reluctant to add to their education burden. So, we find that more than half the housing units started in the state over the past two years have been age restricted.
As its State Builders’ Association CEO (Pat O’Keefe) said, “It’s almost a prerequisite that a project pass the child exclusion test before a planning board will even consider it.” Editor’s Note: If you want to know why it costs so much to educate a New Jersey resident, just talk to one! It’ll be immediately evident!

"Seinfeld" Brief:

Oh, the irony of political “thinking.” We now find our Governor wants to raise $100 million by extending taxes on cigarettes, liquor and death. However, she’s also offered to sign legislation that would ban smoking in bars, which is designed to have a negative impact on all three.
Of course, we’re also quite amused by her proposed 2% excise tax on Lawyers, but doubt that’s enough to drive many out of the state.

A New American Conundrum?
Ever since Alan Greenspan’s “conundrum” regarding his raising of short term rates having no impact on long term rates, we’ve loved the word. And, now Americans have a new “conundrum” as it relates to the Kick-off of NASCAR’s 2007 Nextel Cup series with the “Great American Race” at Daytona, featuring Toyota’s entry into Stock Car racing.
As the Japanese auto maker continues to beat up on its “American” competition in the market place (see page 8), it now plans to become dominant in that most “American” of sports. Recent reports suggest it’s NASCAR teams are putting so much effort into reseach and development, Ford and Chevy are claiming they’re driving the costs of participation too high. Well, Toyota countered by noting that its “Camry” is made in the U.S., while Ford’s entry (Fusion) is made in Mexico, and Chevrolet’s (Monte Carlo) is built in Canada.
So, as we watch the race this coming weekend, who’s a good “American” expected to root for: A Japanese model that’s built in the U.S.; a German model (Dodge Charger) also made in the USA; or the U.S. Company entries that are built outside the nation’s borders? In fact, this all raises another question: Who really did win World War II?

Barry

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Association News and Events by Laura

As we noted on page one, there were only 3 tables available for Exhibitors’ Night as of Thursday, February 8th. They were all six foot tables, priced at $225 each. They may still be available when you receive this, so if you’re interested in displaying, give Laura or Tracey a call at 810-603-2200.

‘06 Inventory Clearance Promotion: A group of roughly 16 participants are meeting Thursday afternoon to finalize plans for an inventory reduction promotion for the first two weekends of March. A first event of its kind (at least locally), it will primarily consist of a television ad campaign, with web site, news print and a brochure as back-up to stimulate late winter traffic and sales, well before the normal spring promotional activities.

And, regarding those “spring promotional activities, Parade of Homes’ entry contracts were sent to builders at the end of January for the event that will open on its traditional “Mothers’ Day” weekend on Saturday, May 12th. and run through May 27th. The normal entry fee ($2,700) remains in effect for all entries received by Friday, February 23rd (additional entries by the same building company are at $1,850).
With the current conditions of the state and local housing industry, this event will be more important than ever to its participants, as the association strives to see its members getting a major share of sales in the Flint area.
Also, in conjunction with the Parade, Housing Quarterly advertising contracts were mailed to members at the beginning of the month.

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New Construction and Sales Activity

Last month we belittled reactions to November’s new home sales’ report, particularly suggestions that the higher rate of sales and climb in the median price represented a “surprising turnaround.” Well, with December’s data we found a number of notable revisions in the previous month which show just how absurd the reaction was.
Most notable was the median price. Originally reported rising 3.2% to $251,700, we now find it actually fell to $232,200, a decline of 5.1% meaning not only that the “reaction” was absurd, but the report itself was erroneous.
Preliminary year end data suggest the median price for all of 2006 was $245,300, up 1.8%. However, prices have been be-low that level each of the past 8 months. They also show sales were down 17.3%, to 1.061 million, the lowest level since the million sales’ barrier was broken in 2003.
But what we find fascinating is a look at sales during stages of construction. Sales of homes prior to beginning construction were down 27.8%; homes sold during construction were down 21.5%; sales after construction was completed, however, were up 5.7%. In other words, older inventory made up 31.4% of all sales last year, but only 24.5% of 2005’s numbers. Therefore, it’s more than likely that prices were discounted dramatically to entice buyers to take them off the market, suggesting greater than normal price distortions.
Single family housing starts were also down, though not as sharply as sales, as preliminary data show a decline of 14.7%, to 1,463,700. But much like the sales’ numbers, starts haven’t reached that level since June. So, that’s likely why we’ve seen a slight drop in inventory, even though sales numbers continued their decline. Inventory fell to an annual rate of 537,000 at the end of the year, well off its peak of 573,000 in July.
Local/Regional
As you can see in the charts to the right (and on page 1), there wasn’t much change in South-east Michigan at the years end. Housing Consultants’ reported 9,873 single family and condo units throughout the region, off 48% from ‘05 (59.5% from ‘06).
Two years ago we built 24,359 in the region worth an estimated $6.6 billion.

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Look Here for Previous Issues of Veritas

Volume 19 Issue 1 January 2007 - Association's "Builders' Initiative 2007" Kicked Off December 15th, GDP off; Fed's Words "Kill", Contributing to Charity? New tax rules could affect you, DMX Clear #4; "Ford Watch" Begins
Volume 18 Issue 12 December 2007 - Articles include (MICIM Sponsored Open House Warms the Holiday Spirits, Existing home prices finally reflect national market conditions, Manufacturing contraction?, Plan for '06/'07 tax years)
Volume 18 Issue 11 November 2006 - Articles include (Parade closes with pleasantly surprising traffic results,
GDP weakest since '03; Jobs "strong?", Appeals' Court: "Don't tax new public improvements", Energy Tax Credit Revisited)
Volume 18 Issue 10 October 4, 2006 - Articles include (Parade opens with perfect weather; surprising traffic, Job Growth didn't fizzle; But HPI did, I "gave" to the tax collector, When buying a building)
Volume 18 Issue 9 September 5, 2006 - Articles include (Building Opportunities; New Venue: Highlight Sept. 20th, Price growth slows; income too, Voters "Generosity" Continues, Start Tax Planning Early )
Volume 18 Issue 8 August 8, 2006 - Articles include (Fall Parade promotes “New” builds - Deadline August 17 th,
Housing and Economic Briefs: GDP falls taking mortgage rates lower, Regulators often need monitoring )
Volume 18 Issue 7 July 12, 2006 - Articles include (Fall events take on greater promotional significance,Analysis: Region’s home sales’ are stronger than popular perception, It’s Time to “Just Say NO” to Millage Requests
Volume 18 Issue 6 June 9, 2006 - Articles include (Parade traffic presented sense of optimism; Golf ‘on the clock’, Distortions rule first quarter price data; but not with Michigan, When to Deduct Entertainment Expenses)
Volume 18 Issue 5 May 12, 2006 - Articles include ("Vegas Night" a winner; Parade opens May 13; Golf outing next, Look behind the NAR verbiage and check actual price & inventory data)
Volume 18 Issue 4 April 7, 2005 - Articles include ("Vegas Night" Set for April's General Membership Meeting,
Coming this month: The opportunity to "wager" on housing prices, Look at a Simplified Employee Pension )
Volume 18 Issue 3 March 3, 2006 - Articles include (MAHB Government Affairs V.P. to speak on 'Energy Code', Government's House Price Index Reports "Real" Story on Values?, Deductions for Charitable Activities )
Volume 18 Issue 2 February 4, 2006 - Articles include (9th Annual BAMF "Exhibitors' Night" opens at 4:00 p.m., Year end 2005 single family/condo data only tell "half" the story, Why Corporate Officers' Should Not Cover "Company" Costs, 30 years of housing say '05's quite strong)
Volume 18 Issue 1 January 9, 2006 - Articles include (Annual Installation & Awards' Presentation; January 18th, Soft landing? Or, could U.S. price levels decline in the new year?)
Volume 17 Issue 12 December 6, 2005 - Articles include (BAMF says "Thanks" with 5th Annual "Holiday Open House", Factory home sites; Jobs' GDP soar, Michigan Home Price Index: 51st in U.S.)
Volume 17 Issue 11 November 4, 2005 - Articles include ( Tax “Reform” Proposals Hold Serious Danger for Housing, Income; GDP; above forecasts, New Tax “Credit” for Energy Efficient Homes)
Volume 17 Issue 10 October 7, 2005 - Articles include (Milestone Fall Parade Brings Reflection on Past 2 Decades,
Production activity deduction: '04 "Jobs Act", Katrina's Impact)
Volume 17 Issue 9 September 8, 2005 - Articles include (2nd Quarter price reports give an illustration of state's woes, '02 Sewer/Water case over? Also, checking August auto sales, Production activity deduction: '04 "Jobs Act" )
Volume 17 Issue 8 August 4, 2005 - Articles include (Contrary thoughts on the Kelo v. New London Ruling, What about those record July auto sales and “employee” pricing?, Taking your spouse on a business trip)
Volume 17 Issue 7 July 7, 2005 - Articles include (Mandatory Education/Higher License Fees -- In YOUR Future, What about that dreaded IRS audit?, Economy seems too fragile )
Volume 17 Issue 6 June 3, 2005 - Articles include (House Price Index Shows More Disparities, Auto Sales Report - May, ISM index falls! Who cares? )
Volume 17 issue 5 May 12, 2005 - Articles include (Parade Kicks Off with Sunny Skies; Great Attendance, Commuting Expense, Growth Slows; Sales Soar )
Volume 17 Issue 4 April 8, 2005 - Articles include (Why does manufacturing get all the breaks?, New Housing Activity, Q1 auto sales; same story )
Volume 17 Issue 3 March 4, 2005 - Articles include ( Incredible Numbers Show Housing Impact, Energy Code Victory, GM; Ford Problems Continue: Losing Sales & Market Share, Fastest Growth Since 1999 )
Volume 17 Issue 2 February 4, 2005 - Articles include ( Exhibitors' Night: Event grows each year; expect 40+ displays, Housing Opportunity Index Highlights Price to Income Disparity, Existing Market Activity)
Volume 17 Issue 1 January 5, 2005 - Articles include ( Despite Fed; Spring warnings; '04 rates held at historic lows, Will the Top 10 Builders Control 40% of the U.S. Market by 2010?, Can You Build "Affordable" Housing?)
Volume 16 Issue 12 December 8, 2004 - Articles include (Auto/Manufacturing Downfall�s Impact on Regional Economy, State House Prices Continue to Lag, Are homes selling 58% faster than in the �90s?, �04 Tax Bills: Breaks for Individuals)
Volume 16 Issue 11 November 10, 2004 - Articles include (3rd quarter housing data solid, but real concerns developing, Affordability decline at wrong time, BAMF Directors 2005, Auto Sales Strong but U.S. Share Shrinks)
Volume 16 Issue 10 October 8, 2004 - Articles include (Strong September Auto Sales Tempered by Incentives; Share, Appeal of a Code Ruling, BAMF Director Nominations, IRS Rules: Child Tax Credit, MAHB Warns on Energy Code)
Volume 16 Issue 9 August 26, 2004 - Articles include (Dangerous Tax Reform Plans on 2nd Bush Term Agenda?,
DEQ Loses BIG!, Talk about the BIG Hype!, State Manufacturing Jobs at New Low,States/Locals Depend on Housing)
Volume 16 Issue 8 August 11, 2004 - Articles include (Michigan Supreme Court Really Does Stand for Property, Rights, Auto Sales Up, Location; Location; LoWhat?, Pay Now ... or, Pay Later?, Jobs� outlook keeps deteriorating)
Volume 16 Issue 7 July 8, 2004 - Articles include (�Big 3� Still Losing Market; But Find New Ways to Move Jobs,
Building Homes with Robotic Labor?, New IRS Audit Initiatives, Jobs� data raises political concerns )
Volume 16 Issue 6 June 7, 2004 - Articles include (1st Quarter Metropolitan Price Data Raises Serious Questions,
What about North America�s Border War?, May Auto Sales Up?, �Pistons:� Economy�s Last Defense?)
Volume 16 Issue 5 May 14, 2004 - Articles include (Parade Opens: Response defies weekend's stormy weather, Awesome Facility sets up �Empire� to Strike Back, New IRS Audit Initiatives, Jobs strong for 2nd month; Rates?)
Volume 16 Issue 4 April 14, 2004 - Articles include (Proposal �A� 10 Year Coverage Lacked Sense of Facts; History,
Builders Note: Grand Blanc Sewer/ Water; Mich. Code, State Funding Begets Desperation)
Volume 16 Issue 3 March 5, 2004 - Articles include (4th quarter existing home prices plunge while home values soar, Warning! OSB Price Replay?, Auto Sales: Still the Same Old Story, Audits � New IRS Audit Initiatives)
Volume 16 Issue 2 February 6, 2004 - Articles include (Vehicle Sales Tell Different Story, Taxation and Finance - Supplying a Company Auto to Employees, Growth strong; but those markets?)
Volume 16 Issue 1 January 7, 2004 - Articles include (Treasury �Witch Hunt� Targets Michigan�s Builders, Building Remains Target, Price v Value May Suggest �Base� Interest Rate, Keeping �growth� in perspective )
Volume 15 Issue 16 December 2, 2003 - Articles include (Michigan�s home appreciation still lags behind the nation, Housing Industry News Briefs � November, New tax revisions make year end review particularly important in �03)
Volume 15 Issue 15 October 30, 2003 - Articles include (Grand Blanc Moratorium Ends as BAMF Accepts Twp. Agreement, Regarding Veritas� Schedule, Tax Act of 2003 � Dividends and Capital Gains Rate Reductions)
Volume 15 Issue 14 September 2, 2003 - Articles include ( Meeting will Focus on Michigan Land Use Council�s Report, Maybe Warren Buffett has a Point; California Property Taxes too Low?, Business and Nonbusiness Bad Debts)
Volume 15 Issue 13 August 18, 2003 - Articles include (No surprise as Land Use Council Ignore�s Causes of Urban Decline, �Peoples� Republic� Jumps First; Ann Arbor Plans Green Belt �Mote�, Selling Investment Property)
Volume 15 Issue 12 July 30, 2003 - Articles include (Brace Yourself: �Land Use Council� Report Coming in August, Sprawl and �Flynt�s� growth industry, Gephardt: New "Monarch" in Waiting, Signs point to improvement -- but!)
Volume 15 Issue 11 July 8, 2003 - Articles include (Faulty Federal Jobs� Data May Invigorate �Anti-Sprawlers�, �Metro Home Sales Sputter�, Gephardt: New "Monarch" in Waiting, Investment Property, Employment Degeneration Continues)
Volume 15 Issue 10 June 24, 2003 - Articles include (Habitat House Dedicated; Case Family Become Homeowners, �Metro Home Sales Sputter�, �Mein Kampf� Dogma Evident In Sprawl; Smoking Attacks)
Volume 15 Issue 9 June 3, 2003 - Articles include (House Deflation: Economists haven�t figured it out yet,
�03 Tax Bill � Breaks for Individuals, Growth ; manufacturing; deficits )
Volume 15 Issue 8 May 14, 2003 - Articles include (CCIF Decision Critical for Fight Against Anti-Sprawl Forces, Auto, Prices and other briefs, Myron Orfield: U-M�s Second Coming of Ed Martin?, Economy sluggish but still growing)
Volume 15 Issue 7 April 23, 2003 - Articles include (April Speaker to Focus on that Chronic Building Crisis, Water rates; autos and other briefs, MAHB�s Policy; The Irony of it All, Auto industry impact really shows )
Volume 15 Issue 6 April 3, 2003 - Articles include (Granholm Enlists her �Republican Guard� in War on Sprawl (action needed), Changes in the Michigan Single Business Tax, War news impact beats economics)
Volume 15 Issue 5 March 17, 2003 - Articles include ( Newly Published OFHEO Data Highlights Impact of Proposal �A�, MAHB�s Policy; The Irony of it All, Promotional Expense Deduction Limit, Weak jobs' data shakes confidence)
Volume 15 Issue 4 March 3, 2003 - Articles include (8 month nightmare could soon be over with County bond resolution, MAHB�s Policy; The Irony of it All, Now business side showing strength)
Volume 15 Issue 3 February 12, 2003 - Articles include (Biggest �Exhibitors� Night� Ever!, Crisis Management Plans for 2003, Sewer and Water Update, So, the jobless rate dropped 0.3%?)
Volume 15 Issue 2 January 23, 2003 - Articles include (Tell Your Story! Meeting to Focus on Sewer/ Water Impact, Local activity skewed by �Top 20�, What�s with these local rentals?, Sewer/Water Focus Shifts to County)
Volume 15 Issue 1, January 8, 2003 - Articles include (Granholm�s dilemma: Can�t slow �sprawl� and balance the budget,
GM gains market share again in �02, What�s with these local rentals?, Crisis Management Plans for 2003, Sewer/Water Focus Shifts to County, Manufacturing sets off stock rally)
Volume 14 Issue 22, December 19, 2002 - Articles include (Health Benefits� Costs Up 14.7% in �02; A drag on employment?, BAMF/Habitat for Humanity: In Progress on Nichols Ave, Health Insurance: It�s �Deja Vu�, Planning 2002 Stock Capital Losses)
Volumce 14 Issue 21, December 3, 2002 - Articles include (3rd quarter appreciation down slightly: �Flint� leads Michigan, Planning 2002 Educational Expenses, Sewer and Water Update, Confusion adds to confidence woes )
Volume 14 Issue 20, November 13, 2002 - Articles include (Guess who�s under attack from California�s environmentalists?
2002 Elections� Anecdotes, Planning 2002 Educational Expenses, Pretty Quiet for an Election Year)
Volume 14 Issue 19, October 29, 2002 - Articles include (New Home Sales break record for second consecutive month
Leadership Set for 2003, Cost Segregation, Pretty Quiet for an Election Year, Housing impact even more dramatic)
Volume 14 Issue 18, October 10, 2002 - Atricles include (Steve Easley to Speak: �Mold and Mildew, a Growing Concern�, Area�s Industry was Base for WSJ article, Options for Business Auto Expenses)
Volume 14 Issue 17, September 24, 2002 - Aricles include (�Habitat House� taking shape after active framing weekend, Moratorium Still in Affect, Squeezing Small Builders, When legal action�s the only alternative)
Volume 14 Issue 16, Septenber 9, 2002 - Articles include (Jeff Wright to speak: Moratorium, water line, head 9/18 agenda
Squeezing Small Builders, Your Company's Business Plan: Roadmap to Success, Jobless rate falls, so does confidence)
Volume 14 Issue 15, August 22, 2002 - Articles include (Despite denials, housing "bubble" could burst; but probably not here, Sewer/Water Moratorium, Education Savings Program, Indict Secretary "Don" Evans,Was Commerce "cooking" the books?)
Volume 14 Issue 14, July 30, 2002 - Articles include (MAHB directors run for cover on statewide sewer and water crisis,
Sewer/Water Moratorium, Three Critical Primary Races, Weak employment - weak confidence)
Volume 14 Issue 13 July 16, 2002 - Articles include (Moratorium draws focus to statewide sewer and water crisis, The Feeling of Helplessness, Job Applicant Background Check, Insurance Premiums Choking Employment?)
Volume 14 Issue 12 June 25, 2002 - Articles include (Your health insurance premiums now finance European socialism, After 12 Painful Years, Relief on the Architects� Seal, Financial Records' Retention, Insurance Premiums Choking Employment?)
Volume 14 Issue 11 June 6, 2002 - Articles include (The "Real" winners in Income Growth: Gaines/Argentine Twps,.Census exposes "Farm" legend, Financial Records' Retention, Dollar's decline is cause for concern)
Volume 14 Issue 10 May 29, 2002 - Articles include (Revenue Sharing: What the State Withholds; Housing can Give Back, Cancellation of network news?, New 2001 Audit Statistics, Road Commission's Subdivision Development Progress online)
Volume 14 Issue 09 May 9, 2002 - Articles include (Farm Bill Legacy: As Always, Policy Comes in Second to Politics, Court Strikes Rogue Law, Home Office Deduction Rules, Growth Up; Jobs Down; Markets Schizoid)
Volume 14 Issue 08 April 29, 2002 - Articles include (Sewer and Water Capacity: The Primary Issue for Michigan Growth, �Fortune� knows �Flint� 2002, Employees Called to Active Duty, Local Existing "Prices" Soar)
Volume 14 Issue 07 April 3, 2002 - Articles include (Can't clone your best employees? profiling can be the next best option, What about North America's Border War?, Local Existing "Prices" Soar)
Volume 14 Issue 06 March 20, 2002 - Articles include (Michigan's leadership in home appreciation values seems over, "Max Bickford" Educates America on Sprawl, Early Withdrawal from Individual Retirement Accounts)
Volume 14 Issue 05 March 5, 2002 - Articles include (When National Retailers Bring About Blight, Rules for Deducting the Cost of Computer Software, Home Builders� Liability Crisis, Is it �Dewey Defeats Truman;� Circa �01?)
Volume 14 Issue 04 February 20, 2002 - Articles include (Little Change in Local Housing Trends as South/East Dominate, Independent Contractors; how to classify workers,Warning! Grand Blanc Builders)
Volume 14 Issue 03 February 5, 2002 - Articles include (More than thirty exhibits set for fifth annual �exhibitors� night�, Need a different type of economic thinking, Benefit: Group - Term Life Insurance, Reality: area activity fell in �01)
Volume 14 Issue 02 January 23, 2002 - Articles include ( Local housing data surprises, Local affordability slips in Housing Opportunity Index, �02 Rates for Mileage; FICA threshold, As signs point up; why the uneasiness? )
Volume 14 Issue 01 January 7, 2002 - Articles include ( Former Governor/Ambassador to speak at January 16th meeting,
State�s #1 in Home Ownership, How times change in 12 years, 1 negative quarter a recession makes?)
Volume 13 Issue 23 December 10, 2001- Articles include (State Housing Activity Plummets in Fall, �Recession� Aside: It�s mostly a banner year for housing, There�s Tax Relief for Bad Debts, 1 negative quarter a recession makes?)
Volume 13 Issue 21 October 31, 2001 - Articles include (State�s New Housing Activity Down 5.8%, A New Danger Lurks in Detroit, Tired of Unsolicitated Mail, Telemarketing and E-mail?, Anti-Sprawl issues take �back seat�)
Volume 13 Issue 20 October 18, 2001 - Articles include (Parade shows little fallout from Sept. 11, Most Important Parade: Ever!, Charitable Donations and Tax Deductibility, Anti-Sprawl issues take �back seat� to economics)
Volume 13 Issue 19 October 5, 2001 - Articles include (�Flint� area activity still leads the state, Most Important Parade: Ever!, Thought there were no inflation worries?,�big� question; what�s the impact of 9/11?)
Volume 13 Issue 18 September 19, 2001 - Articles include (Housing comes together for victims, The day we learned so much!, Sales and Use Tax for Contractors, What if home prices collapse?, �big� question; what�s the impact of 9/11?)
Volume 13 Issue 17 September 4, 2001 - Articles include (U.S Real Estate values soar 8.6% in Q2, Farmers whine; Americans pay!, New Rules Regarding Making Mid-Year Plan Elections,What if home prices collapse?).
Volume 13 Issue 16 August 17, 2001 - Articles include (Administration imposes 19.3% tariff, Biting the Hand that Feeds You, Assisted living residents� monthly fee deductibility, Economy weakens and sentiment rises)
Volume 13 Issue 15 August 1, 2001 - Articles include (State Housing activity may be sliding, The industry that defies gravity, BAMF Truck for local events?, GDP falls, but corporate profits could rise)
Volume 13 Issue 14 July 17, 2001 - Articles include (Senate Bill 351 gets immediate effect, Nightmare on Pennsylvania Ave, Education Tax Breaks in 2001 Tax Act, Sprawl Battle: State v County, Vanishing Surplus is story of the week)
Volume 13 Issue 13 July 2, 2001 - Articles include (State/region: single family activity falls, Rulings explain last fall�s �big $�, Employee v. Independent Contractor or �W-2 v 1099�, Gasoline Prices + Confidence = Growth?)
Volume 13 Issue 12 June 19, 2001 - Articles include (Did weather hurt existing home sales?, They should read there own paper!, Opportunities & Pitfalls: �Tax Relief Act of �01�, Slowdown: continuing or bottomed out?)
Volume 13 Issue 11 June 5, 2001 - Articles include (East Coast/N. Calif: Prices go Wacko, Left Wing Attacks on NAHB Staffer, New Retirement Plan Distribution Rules, Surprise! Confidence up; jobless down)
Volume 13 Issue 10 May 23, 2001 - Articles include (The �New Frontier� of Metro-Detroit?, Census data made economists look like morons, Greenspan limbo: How low will he go?)
Volume 13 Issue 9 May 8, 2001 - Articles include (Spring Parade Opens Saturday, Business News & Issues, Term limits + new salary = pension opportunity, Taxation and Finance, GDP�s growing, and so are jobless lines)
Volume 13 Issue 8 April 24, 2001 - Articles include (Local tax base growth exceeds population, Housing gets its due; but are �they� listening?, Consumers are spending; but business?)
Volume 13 Issue 7 April 2, 2001 - Articles include (County plan calls for $1,000 tap-in Fees, Home values soar; area prices recover, The Equity Affect & America�s Economic Psyche, Michigan Legislative Update)
Volume 13 Issue 6 March 20, 2001 - Articles include (Does �Fed� action impact mortgage, How much power over private business is legit?, MRC Delay: New Target - 7/31, How big will tomorrow�s rate cut be?)
Volume 13 Issue 5 March 5, 2001 - Articles include (State's appreciation rate below U.S. in '00,Venice: A 21st Century Atlantis?/Michigan�s �Greens� take action, Economy: Recalling a mid �50s commercial)
Volume 13 Issue 4 February 21, 2001 - Articles include (An historic 1st: Local economy�s in 6 year period of stability,
New housing stand�s alone?, �Triggers� to protect from surplus� euphoria, Stair Geometry Confusion?)
Volume 13 Issue 3 February 6, 2001 - Articles include (Michigan housing activity off by 1620, Local; Regional permit decline in line with state & nation,�Chrysler� situation brings bad memories, Single State Code Coming May 30th?)
Volume 13 Issue 2 January 16, 2001 - Articles include (New code is focus of 1st meeting of �01, Cost of business operations, �Exec� government in county�s best interest, Environmentalists attack Interior nominee)
Volume 13 Issue 1 January 3, 2001 - Articles include (3rd quarter existing home prices soar, Building Officials� 2 Day Training, Will surging economic fears be self fulfilling?, The big question: soft landing, or recession?)
Volume 12 Issue 23 December 7, 2000 - Articles include ( Time for another burning of �Money?�, Building Officials� 2 Day Training, Economic expectations often unrealistic, Is the Fed getting ready to cut rates?)
Volume 12 Issue 22 November 16, 2000 - Articles include ( 3rd quarter local data show prices fall, Vehicle sales showing softness, Perhaps election results were definitive, Economy strong amid �modest� slowdown)
Volume 12 Issue 21 October 31, 2000 - Articles include (Building activity down 17.8% thru Sept?, County Leaders deserve reelection, Vote �divide and conquer�: its our only hope, Q�3 GDP cools; but is slowdown imminent?)
Volume 12 Issue 20 October 17, 2000 - Articles include (Beyond Prescription Drugs & Education, The $230 billion surplus: real or fantasy?, Looks like growth may well have returned)
Volume 12 Issue 19 October 3, 2000 - Articles include (Campaign: �Housing is Forgotten Issue�, Job Creation study�s analysis ignores local economic reality, Preserve America�s Sanity: End soft money, Poverty low; Spending up; etc)
Volume 12 Issue 18 September 19, 2000 - Articles include(Despite rates, sales still near record, Job Creation study�s analysis ignores local economic reality, Maybe it is time for a County Executive)
Volume 12 Issue 17 September 5, 2000 - Articles include(Area�s �affordability � continues slide, NAHB comes to S.E. Michigan, Save our forests: Cut rather than burn, Some act like the economy surrendered )
Volume 12 Issue 16 August 15, 2000 - Articles include(County wide home prices fall again, Primary results teach important lesson, Selling Investment Property Like Kind Exchanges, More Indications of cooling economy)
Volume 12 Issue 15 August 2, 2000 - Articles include(Housing starts fall throughout region, Locally, Primaries are crucial, Surprise: Fieger party attacks high court, Suspicions on Flint sales confirmed, 2nd quarter growth surge puzzling?)
Volume 12 Issue 14 July 17, 2000 - Articles include (Jobs� discrepancies could be explained, Illinois farm town gives grants to extend �Sprawl�, More proof that BAMF serves the public, Local control or minority rule?)
Volume 12 Issue 13 July 5, 2000 - Articles include ( An end to the claim that housing �costs�, �Suburban Beauty ... Why Sprawl Works�, Taxation and Finance .. by Rachor, Purman & Tucker, Psychotic world of economic analysis)
Volume 12 Issue 12 June 21, 2000 - Articles include (May Housing Activity Declines from '99, Past two weeks said much about the area�s future, Attacking the goose who lays golden eggs, State still tops in appreciation)
Volume 12 Issue 11 June 6, 2000 - Articles include (�How builders buy (political) access, influence", Business Briefs: Sugar update; autos roll on ...,Why Developers Contribute in Local Races, So, the economy�s slowing, you say?)
Volume 12 Issue 10 May 19, 2000 - Articles include (Builders Now Oppose Farm Preservation Bill, Business Briefs: Sugar update; autos roll on ..., Now Rosie�s �My Friend;� Where�s Kathie Lee?)
Volume 12 Issue 9 May 4, 2000 - Articles include (State Windfall from Proposal �A� is Enormous, Business Briefs: Why Agriculture always wins, Parade, Housing Quarterly & Industry Pride, Tax Planning for the year 2000)
Volume 12 Issue 8 April 19, 2000 - Articles include (Town Hall meeting on Sprawl bombs badly, Where Government Appreciates Housing, �Inflation is back!� says Disney News)
Volume 12 Issue 7 April 7, 2000 - Articles include (Final Answer? �Cows don�t go to school.�, Briefs: With local industry impact, Mr. Gore: It's Still "The Economy Stupid!", Equity v Savings; Plastic Timber; & More)
Volume 12 Issue 6 March 15, 2000 - Articles include (State's Home Values soar fastest in U.S., Briefs with local industry impact, Finally, that NIKE factory makes sense)
Volume 12 Issue 5 February 29, 2000 - Articles include ("Sprawl"; Its "costs" may be benefits, Briefs with local industry impact, Policy v Politics: The latter Usually wins)
Volume 12 Issue 4 February 16, 2000 - Articles include (Auto World II? or Legitimate Venture?, Briefs with Local Housing Industry or Economic Impact, The Dilemma that Killed the Coronation)
Volume 12 Issue 3 January 31, 2000 - Articles include (Table Top Exhibitors Nearly Double, Single Family/Condos: Up 14.6%, The "Era of Big Government" is Back!)
Volume 12 Issue 2 January 19, 2000 - Articles include (Local Single Family/Condo Activity Up 9.7%, Special Interest beats another development, Downtown Ramada up for Auction)
Volume 12 Issue 1 January 4, 2000 - Articles include (Local Housing Data Stronger Than Expected, State Code Brings Immediate Change, New Challenges for a Totally Different Era)
Volume 11 Issue 23 December 14, 1999 - Articles include (Housing's Incredible Growth Marked '90s, Proposal A Made Michigan #1, Oh! How U hate to see the nineties go)
Volume 11 Issue 22 November 17, 1999 - Articles include (No Resolution of Single State Code, Water Control in the 21st Century, Term Limits? Bring back the Pros!)
Volume 11 Issue 21 November 2, 1999 - Articles include (Genesee continues to lead region, Governmental Affairs Update, Editorial Credibility: Free Press Blows It!)
Volume 11 Issue 20 October 21, 1999 - Articles include (Single State Code Makes it to Floor, Judge adds $20 million in Novi Case, Government Policy and a fragile economy)
Volume 11 Issue 19 October 5, 1999 - Articles include (NAHB's HOI finds "Flint" at midpoint, Battle over States' Ability to violate Federal Law, Time for a builder/developer President?)
Volume 11 Issue 18 September 16,1999 - Articles include (Sprawl Forum sets agreeable tone, Are we losing another institution?, and Wonder what conference they were at?)
Volume 11 Issue 17 September 1, 1999 - Articles include (County home prices take 12% leap, The Image that just keeps on Haunting, and "A Bumper Crop of Subsidies")