March 3 , 2006

Inside Veritas -
Article 1 - MAHB Government Affairs V.P. to speak on 'Energy Code'
Article 2 - Government's House Price Index Reports "Real" Story on Values?
Article 3 - Housing and Economic Briefs
Article 4 - Existing Market Activity
Article 5 - Taxation and Finance by Rachor; Purman & Tucker CPAs
Deductions for Charitable Activities
Association News Update From Laura
New Construction and Sales Activity
BS: Still about Nothing in particular
Would you like to see a previous Veritas Issues? Click Here

MAHB Government Affairs V.P. to speak on 'Energy Code'

(March 1, 2006) -- Yesterday was supposed to be the first anniversary of building under a new “Energy Code” across the state. However, a lawsuit, brought by the Michigan Association of Home Builders (against the state) was successful in obtaining an injunction, thereby halting its implementation.
Over the past year the state has been joined in defense of the suit by interested parties (including environmentalists), and continual (and costly) legal maneuvering has kept the case from coming to trial.
Of course, the result has been positive for the industry as the injunction’s remained in place. So, at worst case scenario, we’ve delayed the code for more than a year.
Now, however, the MAHB is looking at the possibility of an out of court settlement that would include a new, agreeable, code that would take effect at a later date.
At the March General Membership meeting we’ll have Lee Schwartz (MAHB’s V.P. for Governmental Affairs) who will be the “point man” on all negotiations (or the continuation of the suit) as our guest. Lee will provide an update of Energy Code activities, and other governmental issues that impact the industry.
The evening will begin with an open bar and hors d’oeuvres (sponsored by KSI Kitchen & Bath) ... and, will include updates on local news and issues (including: Parade; frost laws; & building activity)

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Government's House Price Index Reports "Real" Story on Values?

The final piece of 4th quarter price data was released this morning and, from a Michigan
perspective, confirms what’s been written here for years:
“That price level shifts don’t necessarily mean a “real” shift in values.”
Yes, the House Price Index of the OFHEO confirms that Michigan homes are appreciating at a
slower rate than the rest of the nation. However, it also shows our homes continued to appreciate
in 2005, de-spite lower median and average prices. For example, in the suburban Detroit areas of
Oakland and Macomb counties, the National Associations of Builder and Realtor indexes show a
decline in price levels. But, a home in the area now called “Warren-Troy-Farming-ton Hills”
likely appreciated at a rate of 3.35% over the past year.
In other words, the homes that are selling, though lower in price than homes that sold a year
earlier, were still gaining in value. This is also evident in the Flint area, where prices declined
severely, while the value of the homes that sold rose, if only at a 2.5% rate.
But that takes us to the problem with all indexes; they’re restricted only to homes actually sold
which, by itself, distorts the market.
For example, take California, where median prices are over $550,000. Sales have plummeted
for the past 3 months, but prices were up 21% over the past year. Problem? Since few homes in
the state meet the test of “affordability,” only the highest income buyers are likely to be in the
market.
The HPI measures activity (refinance, sale, etc) on existing properties, and compares them to
previous activities on the same properties, some all the way back to 1980. That’s how it gets a
more accurate idea of appreciation that normal price indexes.
And, it found the average across the Nation was 12.9%, led by Arizona and Florida at 35% and
27% respectively.
Michigan was, once again, last, at 3.76%, with six metro areas (including Flint) in the bottom
ten (Lansing led at 5% appreciation). What may need watching, however, is that 5 of the state’s
metros had declining values in the 4th quarter.

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Housing & Economic Briefs: HOI's Michigan message

So many measures of house prices and housing affordability! In recent years we confined our
reporting (primarily) to Realtors’ Association reports and the U.S. Government’s quarterly House
Price Index, but we were happy that the NAHB brought back its Housing Opportunity Index
(HOI) back in 2004 (after a 2 year hiatus). While the HOI looks at market affordability from an
unusual perspective (the percentage of homes sold that were affordable to a median income
household), it offers median prices for Michigan’s Metro areas, which is lacking in other
reports.
The 4th quarter HOI showed us the median income household in Los Angeles could buy just
2.3% of all homes sold the area, making it the least affordable metro area in the nation; while a
median income household in Indianapolis could afford 88.7% of all homes sold there, making it
the most affordable. And, we found of all large metro areas (500,000 residents plus) Wayne
County’s third, and Grand Rapids is fourth of the most affordable group, as roughly 85% of the
homes sold in each area were “affordable.”
But, what was more notable in Michigan were the median price levels, as a rule, were flat over
the past year, while the national median jumped 16%. The graph above shows suburban Detroit,
(primarily Macomb and Oakland counties) Flint/Genesee County, and U.S. medians since the 4th
quarter of 2004.
During that period, affordability fell dramatically across the U.S. according to the HOI, from
52% to 41% of the homes sold being considered affordable. However, despite (or perhaps
because of) Michigan’s slow economy, each of the state’s metro areas experienced a higher HOI
affordability ranking in ‘05, with over 80% of the homes being “affordable.” The message?
Affordability may not always be a “good thing!”

A late February CNN web site article told of “growing concern” about an increasing number
of “cancelled new home orders” as a “sign of underlying weakness in the run in home prices.”
While the biggest factor “cited” for the rise in cancellations (in an NAHB survey) was the
inability to sell a current home, NAHB economics chief Dave Seiders told CNN the big concern
is a factor not cited in the survey: The fear cancellations are driven by Real Estate investors
intending on “flipping” the homes who now believe that market conditions make it highly
unlikely they can sell at a higher price.
If you recall, the Realtors estimated that roughly 23% of sales in ‘04 were to “investors.” So, a
flight of investors from the housing market, along with the cancellations, could actually push
prices lower in different markets.

Because of debt and lower wages, the growth of Americans net worth slowed dramatically in
the early 21st Century.
The Federal Reserve released its triennial survey of Consumer Finances in late February,
finding median net worth grew 1.5% between 2001 and 2004, based mostly on home ownership
and housing prices. But, that’s well below the three previous years, when the median soared
10.3%.
While home ownership was a plus, leading to a 22.8% rise in “Non-Financial assets,” the rest
of the report was “gloomy” at best, particularly as it relates to wages and debt.
While the median income rose 1.6%, to $43,200 during the period, median wages (which make
up the largest part of family income) actually fell 6.2% when adjusted for inflation. But, the real
“killer” was debt! The median level of debt jumped 33.9%, to $55,300, for families with debt
(76% of all families), but the median level of “mortgage debt” was at $95,000, up 27.3%.
On another note, for the first time since the Fed began these surveys in 1989, it discovered a
decline in stock ownership, as the median value of Americans’ “stock related holdings” plunged
to $24,300, or a decline of 33.8%.

Sometimes we find it hard to understand the findings of research surveys ... and, this is one of
those times! The “Tax Foundation” developed an index to note the nation’s “business friendly”
states in regard to their tax structures. Its rankings supposedly penalize states whose business tax
structure is “complex,” has high rates of unemployment tax systems, and has a high “effective
property tax rates.”
So, one can imagine our surprise when Michigan ranked right at the U.S. average as a “tax
friendly” state for 2005, with a lower business tax burden than all contiguous states, plus others
that have historically been considered lower tax states like: Kentucky; Arkansas; Utah; Kansas;
and Nebraska.
Still, one can imagine the eventual use of the Foundation’s report in arguments against any
significant SBT relief.

Here’s a shock: “Healthcare Spending eating up GDP!” A new study for the “Centers for
Medicare Services (CMS)” says healthcare spending will grow at an average rate of 7.2%
annually over the coming decade, and will consume 20% of the nation’s Gross Domestic Product
by 2015 (up from 16% in ‘04). However, that assumes the economy will grow at 5.1% during the
period.
The “good news,” if any, is that private health insurance premiums’ slowed their rate of growth
in ‘05, for the third consecutive year (but that was at a 6.8% rate).

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Existing Market Activity

In it’s monthly report on existing home sales, the NAR wrote: “sales were down in January as
prices continued to appreciate at double digit rates.” Actually, the sales rate (6.56 million) was
the 5th consecutive month of decline ... and, the lowest rate recorded since the 1st quarter of
2004.
But, what we find truly significant are recent price levels. While the $211,000 median is 11.6%
above January of 2005’s price, it’s still below the median price level in June ‘05. In other words,
prices have now gone 7 consecutive months with virtually no appreciation.
While we’ve been through a period like that (June 02-March ‘03) without a year over year price
decline, times were very different back then ...... sales were heading upward as costs (due to
falling mortgage rates) were in decline making homes affordable. Now, it’s affordability in
decline as incomes failed to keep pace with rising costs.
However, the biggest change over the past year is inventory, which is up 35.7%. And, at
January’s rate of sales, there’s a 5.3 months’ supply of homes on the market, 43% above its
January ‘05 level of 3.7 months.

Michigan Year End
As you can see below, there was a tremendous drop in real estate activity late in the year, taking
state and local sales below ‘04 levels. The fourth quarter’s sales were off 9.6% statewide, and
10.3% locally. However, the Flint area’s price level did climb slightly, rising around $750
during the three months.

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Taxation and Finance by Rachor; Purman & Tucker CPAs
Deductions for Charitable Activities

If you are a volunteer worker for a charity, you should be aware that your generosity may entitle
you to tax breaks. Although no tax deduction is allowed for the value of services you perform for
a charitable organization, some deductions are allowed for costs incurred performing the services
(though subject to deduction limits generally applied to
charitable contributions), including such items as:
* Travel expenses while performing services for a charity (out-of-pocket round-trip travel cost,
taxi fares and other transportation costs, plus lodging and meals). However, these expenses aren't
deductible if there's a significant element of “personal pleasure” associated with the travel, or if
your services involve lobbying.
* The cost of entertaining others on behalf of a charity, like wining and dining a potential
contributor (but the cost of your own entertainment/meal is not deductible).
* If you use your car while performing such services you may deduct your actual unreimbursed
expenses directly attributable, such as gas and oil costs, or you may deduct a “flat 14 cents” per
mile for charitable use of your car. In either event, you may also deduct parking fees and tolls. If
you use your vehicle in providing donated services to a charity for relief related to Hurricane
Katrina during the period of Aug. 25, ‘05 to Dec. 31, 2006, you can compute your deduction
using a standard mile-age rate equal to 70% of the business mileage rate in effect on the date of
contribution, rather than the standard mileage rate. (For expenses incurred in 2006, this "Katrina
mileage rate" is 32¢ per mile.) If you’re reimbursed for mileage as a volunteer through ‘06, you
may exclude that reimbursement (up to the standard mileage rate) from your income.
* You can deduct the cost of a uniform worn for volunteer work (as well as cleaning expense), so
long as the uniform has no general utility.
No charitable deduction is allowed for a contribution of $250 or more unless you substantiate it
by a written acknowledgment from the charitable organization. The acknowledgment generally
must include the amount of cash, a description of property that’s contributed, and whether, or
not, there was anything provided in return for your contribution.
This presents a problem where you, as a volunteer, make a contribution, “on behalf of,” rather
than “directly to,” a charity. One way around this is for the charity to pay for the expenses, itself,
and then be reimbursed by you (or you can make the donation before the expense is incurred). If
this isn't possible, you can safeguard your deductions as follows:
* Get written documentation from the charity about the nature of your volunteering activity and
the need for related expenses to be paid. For example, if you travel out of town as a volunteer, get
a letter from the charity explaining why you're needed at the out-of-town location.
* If you are out-of-pocket for substantial amounts, you should submit a statement of expenses
and, preferably, a copy of the receipts, to the charity, and arrange for the charity to acknowledge
in writing the amount of the contribution.
* You should maintain detailed records of your out-of-pocket expenses-receipts plus a written
record of the time, place, amount, and charitable purpose of the expense.

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

There’s a new builder in Town!
If at first you don’t succeed! Martha Stewart tried to follow Donald Trump in the TV business,
but her version of the “Apprentice” failed miserably. So, she’s going after his primary business.
We learned on Monday the domestic ‘diva’ has formed an alliance with one of the nation’s
biggest builders, KB Homes, and her new designs will soon be available in Cary (NC). Next,
they open in Atlanta, Charlotte, Houston, Las Vegas, and, of course, Florida and California,
featuring “looks inspired by Martha’s personal homes.” And, to top it off, buyers will be able to
from products and design elements in a new “Martha’s Choices” line.
Rumor: The California project is anticipated on Alcatraz Island, with condo jail cells and all!

Court says "Yes" to hallucinogens
The U.S. Supreme Court ruled a New Mexico church may use hallucinogenic tea as part of its
four hour ritual intended to “connect with God.” Writing the unanimous decision, Chief Justice
John Roberts said “Federal Agents should have been barred from confiscating the ‘hoasca tea’ of
the church.” The tea contains an illegal drug known as “DMT” which is needed to “understand
God,” according to the church’s members.
We now suspect a branch of the defendant (O Centro Espirita Beneficiente Uniao do Vegetal)
will soon be opening in a neighborhood near you!

$8 million tax bill on $121,900 home
GET THIS! A house is being blamed for severe budget shortfalls in the Valparaiso (IN) area,
after a “computer glitch” raised its value from $121,900 to $400 million! Apparently the Porter
County Treasurer’s office doled out the money from the “tax” prior to its collection, since it
asked the city of Valparaiso and the School District to return a total of $3.1 million. And,
apparently the city and district budgeted the money, since it’s creating budget shortfalls for both
... We originally thought the recipients would have noticed the surprising rise in revenue. Then
again, those were public officials that received the funds.

Seinfeld Brief:
We couldn’t help but take note of a story out of London last month about “Ziggy,” an African
gray parrot. As the story goes, Chris Taylor, the bird’s owner, was sitting on a sofa with his
girlfriend in their “flat” in Leeds when Ziggy began squawking “I love you Gary.” When “Taylor
saw his girlfriend’s embarrassed reaction he realized she’d been having an affair,” right in the flat
they shared, according to the UK Press Association.

Barry

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Association News and Events by Laura

There was quite a surprise for a long time BAMF staffer last month when we took a pause at
“Exhibitors’ Night” for a special presentation in honor of Laura Rutherford’s 25th year with
the association. However, the praise given Laura went well beyond longevity, as she was
recognized far more for her dedication to the building industry, its association and, most of all, its
individual members. And, with the Board of Directors surrounding her (along with a dozen
former officers), the BAMF leadership presented her with a gift in appreciation of that
“dedication.”

Parade of Homes final DEADLINE is fast approaching ... March 15th is the final deadline
for entering a home in the Spring Parade. All entries must be delivered to the association (or at least post-marked) by that day.
For the past several years we’ve had individuals attempting to enter beyond the deadline and
created a “waiting list” ..... meaning, if an entered home fails to meet doesn’t meet inspection
deadlines, the first on the list can replace. However, we’ve only had 1 situation when a waiting
listed home made it into the event.
So, if you want to participate, get with us ASAP! As of this morning (3/1) we’ve got 28
entered, along with seven verbal commitments, and several others that have indicated their intent.

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New Construction and Sales Activity

Sales Down; Inventory Soars
A month’s housing data hardly signifies a trend. However, as we look at January’s new home
sales, we have to take note. If sales were strong, we’d point to historically mild weather as the primary reason. However, sales fell 5% despite the weather, to an annual rate of 1.233 million, the lowest rate since January of last year.
What we can find more significant than sales’ numbers in the Commerce Department report is
its inventory data. The combination of a slower sales’ rate, plus more homes on the market, took
inventory to a 5.2 months’ supply, up 8.3% from a month earlier. However, it was up 21% in
comparison to January ‘05, at a rate of 91,000 additional units on the market.
The new home median price was up a solid 6.7% over a year earlier, which is a change from
recent months. However, a final report on the 4th quarter median price ($232,600) was virtually
identical to the first quarter’s median. When we compare the rise to existing home prices (up
13.3%), we can see the “builder advantage” we’ve been noting since December likely remains in
most U.S. Markets.

U.S. Housing Starts
One reason rising inventories was the surge in single family housing starts in January, (see chart
to the left) back above the 1.8 million unit level after falling off in December. Of course, as we
noted regarding sales, the mild January weather received much of the credit for the solid “starts”
data.
What’s notable about January’s housing report is a 24.5% rise in buildings with five units or
more over December, and a 15.1% jump over January, ‘05. We find it “notable” because of
reports of surging demand for rentals reported in several of the higher price metro areas in recent
months.

Local/Regional Activity
Despite the mild weather, ‘06 began much as ‘05 closed, with activity running way below the
year earlier level. Across southeast Michigan, permits for single family and condo units were
down 42.5% (691 units v 1202) in Housing Consultants’ monthly report, with Oakland and
Ma-comb Counties off 315 units, or 49%. Livingston County (66%) experienced the largest
decline by percent.
In Genesee County (above) it was the continuation of the past eleven months, as permits
continued to lag, well behind, the same period 12 months earlier. Over all, the county was down
25 units (36%) in comparison to January ‘05.
What was somewhat interesting was that Fenton and Richfield Townships led the county with
eight units each, as Grand Blanc’s authorities issued just 3 permits in totality.

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Look Here for Previous Issues of Veritas

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")