March 2007

Inside Veritas -
Article 1 - 1st Ever "Inventory Clearance Sale" opened Saturday
Article 2 - Mortgage Rate Activity
Article 3 - Despite OFHEO "Glitch," Fourth quarter data show prices falling
Article 4 - Commerce Department's "Weapons of Mass Destruction"
Article 5 - Taxation and Finance by Rachor; Purman & Tucker CPAs
Deductable Home Office Expense
Article 6 - Jeeps & Rams with the "GM Discount?"
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

1st Ever “Inventory Clearance Sale” opened Saturday

The Flint Journal called it a “Blue light special on houses” while “Art Van” threatened to sue (not really). But the association’s “Inventory Clearance Sale” that opened last weekend provided an opportunity to make the public aware of the incredible savings and benefits of purchasing a new home in early 2007.
The campaign (primarily TV, backed up with newspaper, brochures, and web site) drew 11 builders (13 models), as it stressed the current “Buyers’ Market” conditions, with lower prices and financing costs.
The 13 models boasted discounts of up to 21%, with savings as high as $70,000.
While we haven’t heard from all the participants (as of Mon-day morning) we do know the following:
1) Web site visits were up by around 200 daily since we began promoting the sale;
2) When the sale was first announced (in a TV12 interview) we began receiving calls the following morning;
3) Of the six participants we’ve had contact with since Sunday, 5 were happy with the first weekend results, and one even sold a model;
The “sale” continues through Sunday, March 11th, with models open to the public on weekends from 1:00 to 6:00 p.m. We expect to report some positive results at the General Membership meeting on March 21st.

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Mortgage Rate Activity

(3-5-07) As you can see, the “shock” that the economy grew faster than expected at the end of last year had its impact. And, as we suggested last month, rates would fall back in February (and that was without knowing growth was to be revised so far downward). But in reality, though it makes for great charts, there’s been very little movement since summer. After all, when rates fluctuate all of 0.2% over six months, there’s not much to get excited about, other than housing remains “affordable.”

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Despite OFHEO “Glitch,” Fourth quarter data show prices falling

Consider this: Home prices in the nation’s metro areas fell 2.7% from late 2005 to the same period in 2006, but the U.S. House Price Index (HPI) rose 5.87%, indicating a comparable rise in values. If you find that confusing, read on.

Throughout the period, from 2003 into ‘06, of soaring existing home prices, we explained how market conditions, particularly ridiculously low interest rates on 1 year ARMs, distorted price levels. People were buying higher priced homes, while paying far less then they would pay on a lower priced house financed conventionally. Consequently, price levels soared above the rate of real value.

Now, with tight lending practices and little difference be-tween ARMs and fixed rates, the fewer buyers in the market are taking advantage of sellers cutting prices in the current “Buyers’ Market,” meaning that, in all likelihood, real values have plunged far more than the 2.7% price level decline. So, why does the government’s HPI show values rising?

Well, much of the paradox stems from the limits of the HPI, which only deals with homes tied to Fannie Mae and Freddie Mac.

Let’s look at Florida, where sales plummeted roughly 30% last year. What we find in the “Sunshine” state is 567,000 sales over two years, while an incredible number (493,000), new homes were built.

Most of those new homes were purchased for investment and 2nd homes, never showing up on the HPI. That is, until the “investor” sold or had to refinance the home.

Thus, the first time the home showed up on the HPI (if at all) was at a devalued price in an appraisal. However, that price was still likely above ‘04 levels, as prices soared for 18 months prior to last spring.

So, while prices in Ft. Myers plummeted 11.7%, they rose 5% according to the HPI. And, while Palm Bay-Melbourne-Titusville prices were down a whopping 17%, their HPI was up 2.6%.

Roughly half (74) of the realtors’ metro areas experienced a decline in price levels with Sarasota (FL) showing the largest at 18%. At the opposite end of the spectrum were two a couple of polar opposites, Atlantic and Salt Lake Cities, up 26% and 22.7% respectively.

In the HPI, the top 10 were all Western towns (outside of California) with growth in prices between 16% and 22%. The bottom of the list was dominated by the Midwest and California, with 7 of the lowest twenty in Michigan (Flint ranked #273 of 282).

Perhaps the most unusual ranking was at #13 where Miami’s (FL) HPI was supposedly up 15.3% over the year. However, the Realtors’ report showed area prices down 6.2% over the same period.

Michigan remains at the bottom
The data for Michigan were far more consistent, with the state’s House Price Index remaining dead last, a position it’s held for the past year and a half. What’s troublesome is that its five-year index (2001-’06) is down to 16.5%, also lowest in the nation.

That’s a dramatic change from the beginning of the decade, when our 5-year appreciation rate was the highest in the U.S. Of the twelve metros in the HPI, only Ann Arbor and Bay City showed an increase. Jackson had the largest decline (3.9%).

Only three metros were reported by the Realtors (Detroit, Grand Rapids & Lansing) with all showing declines. But in somewhat of a surprise, it was Grand Rapids with the largest decline of 4.1%. (Note: Flint/Detroit are covered in “Housing Market Update”)

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Commerce Deptartment’s “Weapons of Mass Destruction”

Americans rely on their government for a variety of items: Protecting U.S. borders; Control of Air Traffic; Providing “intelligence” on individuals and nations threatening us; and Protecting pensions and benefits, to name a few.

But many of us also depend on the government to monitor economic activity to provide the data necessary to make wise business and investment decisions. Well, the government’s incompetence in the latter has again become as obvious as its incompetence in Intelligence in Iraq, Border control, or even Air Traffic Control on 9-11-01.

On January 31st the Department of Commerce released its first estimate of 4th quarter Gross Domestic Product, proclaiming the economy grew at an annual rate of 3.5%. In response, “analysts” concluded the decline in housing wasn’t having a drastic impact; the Fed clearly won’t be lowering rates this year; the performance was “remarkable;” and, of course, the “markets” reacted with stock prices and bond yields rising.

But last week, when the Department revised its estimate, we found the economy only grew at a rate of 2.2%.

In other words, “Commerce” had overestimated growth for the quarter by 59% (Note: Its housing data isn’t much better ... see pages 3 & 4).

This debacle reminded us all too much of a situation in late summer ‘02, when the Department called the “Recession of ‘01” some ten months after it ended. “Commerce” originally reported 1st quarter growth in 2001 at a “surprising 2%,” be-fore revising it downward to a rate of 1.3%. Then, roughly 16 months later, it revised growth for the quarter to a negative at -0.5% which, coupled with a minus 1.4% reading in the 3rd quarter allowed for a period of nine months of economic de-cline, also defined as “recession.” Of course, when “that recession” was called it had little impact on the nation, as the economy was already in its fourth consecutive quarter of growth which, ironically, began a mere 29 days after the 11th of September, 2001.

What’s troubling is the lack of confidence in these reports, with no alternatives to find accurate data. After all, the Department’s reports become “fact.” What’s even more troubling is that lack of consequences for those responsible for issuing them.

Consider this: If a corporation issues faulty “guidance” on its anticipated profits, the government may well begin a criminal investigation under the premise the company’s trying to manipulate stock prices. But who investigates the government?

While we can easily believe the government’s miscues are due to incompetence, not design, it’s conceivable there’s a competent public ‘servant’ out there (maybe even two) that would distort data for profit or fun. Unfortunately, since there’s no mechanism to make such a discovery, we have to accept the excuse of incompetence which is, far more than likely, the real problem.

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Taxation and Finance by Rachor; Purman & Tucker CPAs
Deductable Home Office Expense

If you use part of your residence as a "home office" to perform work-related activities, you may be entitled to claim a home office deduction on your income tax return. The deduction can be quite valuable, but rules regarding it are strict. The IRS recently reminded taxpayers about the distinction between personal and business expenses and the requirements for the deduction.

What Expenses Are Deductible?

Mortgage interest, real estate taxes, insurance, utilities, and various other expenses related to buying or renting a residence and repairing or maintaining the home usually cannot be deducted as business expenses.

Exclusive and Regular Use

Despite this general rule, you may be eligible for a deduction if you use a portion of your home as your principal place of business or as a place to meet or deal with clients, customers, or patients in the normal course of business. A deduction also may be available if your work space is located in a separate structure that is attached to your home. In any of these situations, the space must be used exclusively and regularly for business purposes.

Note that the exclusive use test does not apply to space used for the storage of inventory or product samples.

Also, if you are an employee (rather than a business owner), you have to meet additional requirements for the deduction. Your use of the home office must be for your employer's convenience, and your employer cannot rent the space from you.

Calculating the Deduction

Essentially the deduction will be based on the percentage of your home that is used for business.

Two methods are commonly used to calculate the business percentage. Under one method, the area of the home used for the business is simply divided by the home's total area.

Example. Paula, a freelance photographer, uses a 200 sq. ft. bedroom in her apartment as her office. If the apartment is 1,000 sq. ft., the business-use percentage would be 20%. Assuming Paula has met the requirements for a home office deduction, she can deduct 20% of her rent, electric bills, and renter's insurance premiums as a business expense.

The second approach divides the number of rooms used for business by the total number of rooms in the house, assuming all of them are about the same size. Thus, if a home has 10 rooms of equivalent size and one room is used as a home office, the business-use percentage would be 10%.

IRS Warning

Taxpayer compliance in this area is of concern to the IRS, and "playing by the rules" will help insure that a home office deduction can withstand IRS scrutiny.

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Jeeps & Rams with the "GM Discount?"

If there was any real “NEWS” in February’s auto sales’ announcements it was the “surprise” that GM’s sales rose above last February’s level (or, maybe) that Ford and Chrysler were back to their traditional ranks of #2 and #3 respectively.

However, in reality, it was the same old story: GM and Ford continue to lose market share (year to date); Chrysler’s holding at its recent level; as Toyota, Honda, and Nissan continue to capture a larger share of U.S. buyers.

What IS notable, however, is that Toyota is merely a half a percent out of holding the #2 position, and will, in all likelihood, rise to that historic height in the coming months.

The real auto news, as it will impacts regional economics, is Chrysler’s drag on its German owner, and Daimler’s admittance that it would like to sell the division. First, there was the announcement of cutting jobs and closing plants. Then came the word of “buyouts” of employees similar in nature to those carried out by Ford, GM, and Delphi.

But most notable were the musings, and apparent talks, of GM picking up Chrysler in exchange for GM stock. A decade ago the idea would have brought outrage with GM controlling an outrageous percentage of the market. But in the late 2000s, that percentage of the market would likely fall to the 35% range, not even close to what GM held on its own years ago.

Of course, there’s also talk of “Chinese” auto makers buying the division. Makes us wonder how NASCAR fans will adjust to the entry of “Godless Communism” into Nextel Cup racing?

Barry

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

Another “Vasectomy Housing” Project for New Jersey?

America’a favorite (or at least best known) developer wants to build a Wedding Chapel on his golf course in New Jersey. But, here’s the caveat: He later wants to convert it into, of all things, a mausoleum for himself and his family.

Of course, we’re talking about Donald Trump, who wants to expand the services at Trump National Golf Club to include weddings and, we assume, funerals.

The article regarding Mr. Trump’s new ambitions stated he has to gain approval from the “Bedminster Planning Board” which, we would think, should be of no problem. After all, it is in New Jersey. And, last month, we noted (in this very column) that projects must pass the “child exclusion” test to be accepted there. Thus, we’d assume a mausoleum is exactly the kind of development New Jersey Planning Boards would welcome ... even if it would house Mr. Trump for eternity.

“Seinfeld” Brief:

It’s been a couple of interesting weeks in the financial markets, so we wish someone would remind investors that Alan Greenspan is no longer “Chairman!” While giving one of his $150,000 speeches Greenspan uttered the “R” (recession) word as a possibility, and the media went crazy (and so did many investors). However, as we’ve bashed the Commerce Department’s competence (or lack thereof) throughout this issue, noting how billions were lost based on faulty information, we should probably understand why the media (and investors) still pay attention to the last bastion of Government competence remaining in the public eye.

“Chairman Mao” in Nextel Cup?

Imagine the following scenario: Kasey Kahne wins the “Michigan 400” in the proverbial “back yard” of the U.S. auto industry, then exits his Dodge Charger, begins thanking his sponsors (including the UAW), then finishes with a “quotation from Chairman Mao.” This “unbelievable” scene may not be all that far fetched with the announcement that the Chrysler Division is up for sale, and reports that Chinese auto makers have expressed interest.
Of course, as fascinating as the concept of merging Mao and NASCAR may be, think of the potential conflict of the Chinese “communists” running factories staffed by union members. Then again, we’ve got the better question: Who’s going to build homes for Chinese Execs moving to Auburn Hills?

Barry

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Association News and Events by Laura

Regarding the General Membership meeting (March 21st, at Brookwood): While we don’t have the speaker set at this time (check the web site for an update), we have a number of serious industry issues, even beyond the housing market. First, there’s the serious matter of mandatory fire suppression sprinklers that could be in the next code; Then, there’s tax proposals to replace the SBT and solve the state’s “budget crisis.” This meeting will come on the heels of MAHBs “Capital Day,” where we’ll be getting a full report on where the direction the state’s likely to go.

Spring Promotional Events:

As we noted last month, 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 will run through May 27th. The deadline to enter is the day of the Meeting (March 21st).

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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Updated Housing Market Activity

Existing Home Sales
While the “Realtors” reported a rise (3%) in the rate of existing home sales during January, the 6.46 million unit rate was well below January ‘06, but relatively close to the rate of all of last year. However, the bigger story was the sharp decline in median price, which was 3.1% below last January at $210,600 (see chart to the right).
What’s notable is that the decline spreads across the nation, but is biggest in the West despite that regions’ strength. What we’re seeing in the region is declining activity in California, Las Vegas and Phoenix, which offsets the tremendous price growth in Oregon, Washington, Utah and New Mexico.
The other issue, which would normally be critical, is that inventory rose by 100,000 in January. However, as we’ve often noted, inventories normally fall before the holidays and rise at the beginning of the year.

New Home Construction
Housing starts plunged during the first month of the year with single-family activity falling 39% below last January’s level. Furthermore, permits were off 30% from a year earlier, suggesting the declining numbers will continue, at least through winter.
The declines were led by the West and Midwest, where activity was down roughly 46% combined.
So, with the continued decline in housing starts, one would expect builders would be getting a handle on inventory. Well, that’s not the case according to sales data.
Sales fell to an annual rate of 937,000 during the month according to Commerce Department data, a decline of 20% from a year earlier, while inventory was reported as rising by 1,000 units. “Commerce” also reported a slight rise in t the median price, but we have to question the validity of these price reports. We could not help but notice the fluctuations in prices reported over the past few months, recalling the gigantic swings in November, first reported at “$251,700.” So, we looked at the six months from June through November (see below) and found that revisions were dramatic, but only the original estimate received much attention.
What you have below are the prices as originally reported, then revised in the year end report. As you can see, November was revised downward by nearly $20,000.
However, like nearly all “Commerce” reports, individuals make decisions based on the release. And, markets reacted when November’s data suggested the “worst” of the housing downturn had passed. (FYI: In February, the November price was revised upward to $242,000).

Regional Prices
According to the National Association of Realtors, the “Detroit” area prices (which appear to include Ann Arbor and Flint) fell 1% from the final quarter of ‘05 to the same period last year. However, they’re preliminary figures show a slight rise in the fourth quarter as compared to the third.
Those numbers are interesting as they coincide with the data from the OFHEO’s House Price Index, showing a rise in Ann Arbor and the traditional Metro area. However, the Index shows a continuation of the decline in the “Flint” metro.
What’s most troubling with the recent re-port are the five year rankings showing the Flint area’s appreciation at only 12.6% over the period and traditional “Detroit” at 11%.
In other words, according to government data that we think is on the “high side” as a rule, we find growth in regional prices fell below the rate of inflation throughout this decade, after leading the nation during the final half of the 1990s.

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Look Here for Previous Issues of Veritas

Volume 19 Issue 2 February 2007 - Articles Include ( 10th Annual BAMF "Exhibitors Night" opens at 4:00 p.m., Preliminary data suggest county slumped to just over 800 units, Thanks Jennifer!!! Granholm veteoed forced "Con-Ed")
Volume 19 Issue 1 January 2007 - Articles Include (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")