April 2007

Inside Veritas -
Article 1 - April meeting to focus on Legal issues in building & real estate
Article 2 - Mortgage Rate Activity
Article 3 - SEMCOG Report Forecasts 10 years of population decline
Article 4 - Saga continues: 1st quarter auto sales
Article 5 - Taxation and Finance by Rachor; Purman & Tucker CPAs
On The Rise: COL Adjustments
Article 6 - Jeeps & Rams with the "GM Discount?"(from previous issue)
Association News Update
Housing & Economic Briefs: Inventory; Michigan 'Sub prime'
BS: Still about Nothing in particular
Would you like to see a previous Veritas Issues? Click Here

April meeting to focus on Legal issues in building & real estate

There’s been all too much in the news regarding real estate and construction legal matters over the past 6 months. Liens on new homes, loss of property due to foreclosure, fraud in appraising, and municipalities’ assessment abuse are just a few of the issues making area headlines during the period.
At the April general membership meeting we’ll hear from specialists in construction and real estate law, as Chris Christenson and Craig Fiederlein
focus on current legal issues in today’s housing industry.
Chris Christenson has been an association member for the past five years, with an office on Court St. in Flint. Last year he formed a partnership with Craig Fiederlein, and they expanded there practice, adding a second office in Troy to better serve their clients operating throughout the Southeast sector of Michigan.
Chris and Craig will present an update on recent changes in construction and real estate law, then take questions from the membership on more specific issues. And, they’re also the evening’s sponsor.
Also on the April 25th agenda will be a new idea on how association members can help promote the Spring Parade of Homes, with virtually no effort, and opportunity to become involved in the fun of a one day membership drive coming in mid May.
So, don’t miss this meeting and please RSVP (603.2200).

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Mortgage Rate Activity

(4-6-07) As rates have been creeping up for the past few weeks (after the steep decline in mid to late February), there was continued confusion as to the economy’s strength, or lack thereof, with the question being “would the Fed lower rates?” (not that it would have much impact on long term rates anyway) ... Well, the “Jobs” report came in strong “Good Friday,” and the remaining stragglers (only bond traders were working) went into a frenzy, driving long term rates upward. So, look for rates to come in a bit higher in Thursday’s Freddie Mac report, likely above 6.2%.

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SEMCOG Report Forecasts 10 years of population decline

As an area that’s been virtually fully dependent on Metro Detroit for any semblance of job growth since 1979, Metro “Flint” should take note of the chilling South-east Michigan Council of Governments’ (SEMCOG) Economic outlook release last month, suggesting further decline in jobs for Metro Detroit, along with a ten year decline in population for the region.
The “economy is in the midst of a fundamental restructuring” with “serious consequences,” notes SEMCOG, due to “shrinkage of the domestic auto industry.” And, it says “auto manufacturers (who already cut 55,000 jobs in the past 5 years) will cut another 27,000 over the next 5.”
The report suggests total jobs will continue to decline through ‘09, then begin to pick up slightly the following year.
SEMCOG sees population on a decline through 2015, due to a combination of 25,000 people moving out of the area annually, combined with a lower birth rate. In fact, it doesn’t see the region recovering to its ‘05 population level until the year 2025.
There was one “bright spot” in the council’s report. It said “healthcare will add 100,000 jobs over the next decade.” However, one must question who will pay for it?
Health care costs have often been considered the auto industry’s downfall, so adding more “overhead” to the region’s health care system is hardly a plus when it comes to gaining jobs. In fact, over the past six years, health care (+ education) have seen a 15% rise in employment (according to U.S. data) while the rest of the region’s economy shed roughly 12% of its jobs.

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Saga continues: 1st quarter auto sales

Perhaps the “real news” on the automotive front for March was the growing number of suitors wishing to purchase Chrysler. The list includes former largest shareholder Kirk Kerkorian, who offered $4.5 billion for the troubled division (recall that Kerkorian recently purchased and sold volumes of GM stock).
Of course, there was also the eye-brow raising news that Ford paid Alan Mulally $28 million for 4 months work last year. But in retrospect, that’s a bargain in comparison to what the “Fords” paid the CEO of their “other” high profile company.
But the key to March auto sales data is the Headline that noted the “Big 3” still had over half of the U.S. market. “Over half” is now a “good thing?”
Which takes us to the auto section of a recent “Southeast Michigan Council of Governments (SEMCOG) report showing the forecast that “Big 3” market share will slip to 49.4% next year. The shows that GM, Ford and Chrysler’s combined market share held in the 70% range through ‘98, then began the continual slide toward the numbers we’ve been publishing each month. Well, three years ago Ford’s sales were 73% above Toyota’s. Now, they’re 5% above. What more needs to be said?

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Taxation and Finance by Rachor; Purman & Tucker CPAs
On The Rise: COL Adjustments

The government’s recently announced 2007 cost-of-living adjustments to the Social Security wage base and to various tax law limits of interest to retirement plan sponsors and participants. Here's a rundown:

The Social Security payroll tax will apply to up to $97,500 of earnings in 2007. All wages are subject to the Medicare tax.

Elective deferrals to 401(k) and 403(b) plans can total as much as $15,500. The limit’s $20,500 for employees age 50 or over catch-up contributions.

SIMPLE plan deferrals are now limited to $10,500 ($13,000 with catch-up contributions).

Annual additions to a participant's profit sharing or other defined contribution plan account can total up to $45,000 for 2007.

The maximum annual benefit that may be funded for a participant in a defined benefit plan is $180,000.

The maximum amount of compensation that may be considered in computing qualified plan contributions or benefits is $225,000.

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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

Move over Sanjaya! America's found a "Cooler Pet"

We first saw it on “Good Morning America.” Early last week a one year old coyote walked through the open door at a downtown Chicago “Quiznos” on a warm spring day, wandered into the drink cooler, and sat while watching customers through the cooler door. Surprised customers did clear out of the restaurant, though several first took photos with their cell phones before leaving, according to a “Sun-Times” report.
By all reports, the coyote was well behaved, prior to being taken away by animal control workers (who released him later). However, the real question is why did he choose Quiznos? There must have been a Sub-Way close buy.
We would hope “Quiznos” would attempt to capitalize on the event. Perhaps a new campaign with an “American Idol” type call-in, voting for its Coyote, or “SubWay’s” Jared.

“Seinfeld” Brief:

Last June we noted the Berlin Brothel that was offering “Special Deals” to virgins, with its “sensitivity trained professionals.” Now, we find another German brothel, this one in Cologne, that introduced “reduced rates for clients aged 66 and above.”
According to a Reuters re-port, the brothel gives a 50% discount to seniors between the hours of noon and 5 p.m. each day. Noted the brothel’s managing director, “we don’t earn as much money, but we’re establishing ourselves across a broader range of age groups.”
The “senior” session costs 25 euros (tip optional?). The “Virgin” price in last year’s note was 60 euros ... Oh, the advantages of old age.

More Ford CEO Controversy
Word came out last Thursday that Alan Mulally, who re-placed William C. Ford Jr. as the CEO of Ford late last year, was paid $28 million for the 4 month period he served in that capacity during 2006. In a CNN Poll, with 36,000 respondents, 78% said the pay was inappropriate, 19% said it would be “appropriate” if he were to turn the company around.
Well, with the Ford track record, we remain skeptical. Of course, it could be a ploy to take the heat off Matt Millen prior to the NFL draft, and focus it on someone else.

Barry

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Association News and Events by Laura

It’s clearly a sign of the times, as the final deadline for the Spring Parade of Homes passed, with only 21 models entered in the event. However, while well below the roughly 40 participants we’ve been averaging in recent years, we’re reminded of how impressed we were in 1991 when we received 20 entries, and had one of the best events on record.
Still, the 21 participants give us plenty of promotional dollars to promote a fantastic event. And, we’ve discovered a way to stretch the promotional impact with magnetic signs for BAMF member vehicles.
Of course, we’ll still have the normal media promotion with billboards, television and newsprint, along with the continual focus on our signage and web site.
The event opens on the traditional day before “Mothers’ Day (May 12th this year) and runs through Sunday, May 27th.

Housing Quarterly magazine will, as always, accompany the Parade, and will be mailed out on Monday, May 7th. We still have availability for Black and white ads (one page of color could be made available also) ... If interested, call the office immediately at 603.2200.

Last month we focused on association benefits at the General Membership meeting, and found that many of you are not fully aware of all that we offer. In May we’re going to hold a membership drive and are asking for participation from current members. As a lead up to the drive, we’ll be hosting a session of participants to explain and discuss these benefits in full. We’d urge all to get involved, as it may be a positive learning experience for even our current members.
Along that line: We’ll also be hosting an orientation meeting after Labor Day, with all members encouraged to attend.

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Updated Housing Market Activity

**Though we’re weeks away from the realtors’ March sales report, it was quite surprising to see data compiled by “Zip-Realty” showing the number of homes for sale in 18 metropolitan areas up 6.5% since February’s end. And, what’s even more notable is the surge in California’s largest cities, with L..A. up 12.8%, San Francisco up 12.2% and Orange County up 9.3%. These were metros that “appeared” to beat the declining prices of most U.S. regions in the fourth quarter.
The “Zip” report also showed inventory for the 18 areas was up 35% since March ‘06, led by Miami (up 61%).
From an historic perspective, inventory normally rises 1.7% from February through March. So, the March ‘07 data is particularly surprising. However, one theory suggests that owners are putting homes on the market early, since it’s taking longer to sell. If that’s correct, we won’t be sure until we see late spring data.

**The “Sub prime” situation may not be as much of a problem in Michigan than in other parts of the nation. However, it is significant in the Southeast sector.
A Wall Street Journal article last week included a map listing heavy concentrations of sub prime lending, and there’s very few Michigan areas that show 15 to 20%. Most of the heavy concentrations in that range are in California, Florida and West Pennsylvania. However, the heaviest concentrations (20 to 30%) are in Metro Los Angeles, Miami, Memphis and Washington D.C.
Flint, with the highest metropolitan concentration in Michigan, is ranked 33rd in the U.S. while Lansing and Detroit are ranked 80 and 81 respectively. However, “Detroit” is ranked second (behind Cleveland) in the highest percentage of sub-prime delinquencies (24.6%). “Flint’s” sub prime numbers are 17.1% of mortgages, 20.7% of which are “delinquent.

**While we don’t know if it‘s “good” or “bad” news (most financial markets were closed for Good Friday) but the Labor Department’s “jobs” report was much stronger than expected. U.S. payrolls grew by 180,000 during March, and were revised upward for both January and February.
Furthermore, the unemployment rate fell to 4.4%, the lowest level since May 2001.
As we’ve come to expect, the employment report brought a knee-jerk reaction to the bond market (which opened that morning) with yields rising sharply under a premise that it’s less likely the Fed will cut rates soon. But it remains to be seen how other markets will respond, since they’re closed until Monday.
So, how could strong job creation be bad news for the economy. Well, the data show that one out of every six jobs added during the past six months was in “health care,” an industry that’s costing the rest of the economy drastically. And, adding overhead to the health care system at that kind of rate can only make it that much more unaffordable.

There was another “good news” and “bad news” scenario with the “Realtors” February report, showing sales were up a surprising 3.9% in comparison to January’s rate. However, they were down 3.6% compared to a year earlier, and inventory was up nearly 26% compared with 2006. Furthermore, prices fell again on a year over year basis, representing the seventh consecutive monthly decline. The median price came in at $212,800, 2.3% below February 2006’s $217,800.
However, the report’s most troubling section was the continuing rise in inventory. In a previous brief we noted the “Zip Realty” report for March (18 metro areas up 6.5%), with it massive inventory rise. The realtors’ February report showed inventory up 5.9% for the month, suggesting March data will add significantly to an already serious situation.

Michigan’s sales were relatively strong but prices continued to slide, according to the state’s “Realtors’ February report.
Across the state sales were off less than 0.5% from early 2006, but prices were off 8.23%, with an average price at $136,238. Notable declines included: Detroit (23.5%) $62,800 to $48,100; Saginaw (17%) from $107,800 to $89,500; Macomb (10.55%) - $153,500 to $137,300. Flint was down 6%, from $118,900 to $111,700.
(Note: Re: Flint area 1st quarter sales: The web site at “ChangingStreets” says Gene-see County home sales “appear to be 915. Of these, only 331 appear to be foreclosure sales.” If correct, that means sales for the month of March were just 293, down 36% from last March, taking year to date activity for Flint Area realtors down 14.4% from a year earlier. Furthermore, it also suggests that 36% of all local sales were foreclosed homes. We’ll check this one out.

New U.S. Home sales continued their decline in February, falling nearly 4% from January’s level and coming in 18.3% below February 2006. For the first two months of the year, sales are down 23.2%, however, prices are slightly up at roughly $248,500. Housing starts, on the other hand, were up substantially from January, led by a 10.3% rise in single family activity.
However, single family starts were down nearly 33% from last February, and remain more than 34% behind last year’s level on a year to date basis.
What we can find interesting is that single family starts are running at a 1.1 million unit rate for the year, an historically solid number prior to 1998 when we first broke the 1.2 million barrier.
On a regional basis, the rise for February was contained in the South and West. The East was down 14.4% while the Midwest saw activity decline 19.3%.

Locally? Unfortunately it was more of the same. The single family/condo market is off 44.5% from 2006 (which was already down 42.5% from ‘05) for the first 2 months of the year according to Housing Consultants’ data. There were just 808 permits for owner occupied homes in the whole region; a region that was building 24,000 units just a few years ago.
If there’s anything in the report that should be shocking, it’s Oakland County with 148 units authorized. The county’s activity was roughly 6,000 units in 2004.
Genesee County was down “only” 13.5% from last year’s numbers, with 90 units, over half of which were in Grand Blanc. But even in that case, a check with the building department suggests most of those were in two projects, a 12 unit condo building and 20 homes in the Del Webb retirement development off Baldwin Road.
Davison was second with 11; Mundy had 7, and Clayton Township had six.

“Baby Boomer” Housing Boom? For the past several years there’s been a barrage of articles, seminars and mailings in an attempt to sell builders and developers on getting ready to build for the 80 million or so “baby boomers” who are just beginning to reach retirement age. And, there’s also been the expression of fears that, as this generation hits its 60s, the drain on the Federal Social Security system will drive it into bankruptcy.
Well, there’s been a whole lot of other information that suggests, if you’re looking to build boomer retirement communities, forget about it. And, it may be another decade before they begin draining Social Security.
During the past two weeks, we’ve seen several media pieces on the generation, all suggesting “Baby Boomers” are far different than their predecessors. While a few differences in the studies emerge, a number of these items are universal: Though Boomers intend on retiring from their “current” jobs in their mid 60s, roughly three-quarters plan to keep working in a career change; boomers consider age 60 more like “middle age” of past generations; despite being wealthier and better educated than past generations, boomers haven’t really saved for retirement; and, roughly 2/3 believe the mental stimulation that comes from working is necessary to thrive in their later years. And, most of all, the last thing “boomers” want is to live in age restricted housing!!!!

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Look Here for Previous Issues of Veritas

Volume 19 Issue 3 March 2007 - Articles Include ( 1st Ever "Inventory Clearance Sale" opened Saturday, Despite OFHEO "Glitch," Fourth quarter data show prices falling, Commerce Department's "Weapons of Mass Destruction")
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")