April 7 , 2006

Inside Veritas -
Article 1 - "Vegas Night" Set for April's General Membership Meeting
Article 2 - Coming this month: The opportunity to "wager" on housing prices
Article 3 - Housing and Economic Briefs: Can taxes rise if values fall?
Article 4 - Existing Market Activity
Article 5 - Taxation and Finance by Rachor; Purman & Tucker CPAs
Look at a Simplified Employee Pension
Association News Update From Laura
New Construction and Sales Activity
BS: Still about Nothing in particular
Would you like to see a previous Veritas Issues? Click Here

“Vegas Night” Set for April’s General Membership Meeting

Get ready for a special evening of fun, food, refreshment and prizes! Bring a Guest!!! BAMF will be hosting a “Las Vegas” night on Wednesday evening, April 26th.

The evening begins in usual fashion, with cocktails and hors’ d’oeuvres from 6:00 to 7:30 p.m., sponsored by Wimsatt Building Materials. However, at 7:00 o’clock the “gaming” begins, with Black-jack, craps, roulette, and even Texas hold-em!

The games will end around 8:45 p.m., and prizes will be distributed ...

So, bring your spouse ... bring a friend! The more people, the more FUN!

And, don’t forget to RSVP by April 20th! Call Tracey or Laura at 810.603.2200, or e-mail: laura@bamfhome.com or tracey@bamfhome.com.

See You on the 26th!

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Coming this month: The opportunity to “wager” on housing prices

lt’s somewhat ironic (considering our lead article) but, on March 21, a number of groups (including the Chicago Mercantile Exchange and Standard & Poors) announced the “S&P CME Housing Futures & Options,” creating new financial instruments that will allow investors to speculate on the direction of housing prices.
These new options will allow the “betting” on prices for ten large markets, or the nation as a whole. In other words, an opportunity to gain from home prices without actually having to make a purchase.
In a “CNN/Money” report of the new market, Yale economist Robert Shiller (of Case-Shiller-Weiss, a partner in the venture) noted that, “of the 3 major asset classes (the bond -stock-housing markets) only housing, representing $20 trillion in assets, cannot be speculated on easily.”
While Shiller, and his partner Karl Case (whose Case Shiller Weiss index will be used as the measure), see the new opportunity primarily as a tool for large investors to reduce risks, a Mercantile Exchange spokesman said there’s a surprising “amount of interest on the part of retail consumers.”
The article noted there were “several ways,” according to Shiller, to “employ these new tools:”
Direct Investment: Buying futures in housing prices and profit if they go up; or down. (in other words, betting the “under & over”)
Lock in home equity: If you intend to sell in the near future, “go short” in on house price futures. If the price on your house drops, you can recapture the loss.
Linking the price of a home to the index: A seller could tie his house price to the index by making it a “multiple of the index for the city.” It’s sort of a “gold standard” for residential real estate.
Shiller, who’s recently been warning about the possibility of falling prices, sees the new product as fulfilling a need for hedging against volatility.

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Housing & Economic Briefs: Can taxes rise if values fall?

An early March Detroit News’ feature focused on the issue of property taxes rising higher than home values. After noting home values in the Detroit area were flat as they’re “starting to reflect the state’s struggling economy,” it pointed out that homeowners aren’t likely to “see a corresponding plateau” in their notice from their local assessor.

Why? Because Proposal “A’s” limits allow it. While growth in a home’s “taxable value” is held to the rate of inflation, it can rise to its “assessed value,” even if its assessed value during the year.

Theoretically, since 1994, the growing gap between a home’s “taxable and assessed” values has, in a way, become a virtual “savings’ account,” for the units of government that collect property taxes, shielding them from a major decline in home values.

For example, while home values rose roughly 80% since ‘95, while inflation rose around 27%. So, if a home’s assessed value was $50,000 in ‘95, it was likely in the $90,000 range last year.

However, its taxable value was likely around $63,500, leaving a $26,500 gap. If the house experienced no appreciation last year, its’ taxable value could still be raised to $65,600 [@ 3.3% inflation], and could be raised for years, despite lack of appreciation.

However, in homes that have changed hands during the 21st Century, it may not take long to eat up any “gap,” as Michigan’s homes have been appreciating at much lower rates since 2000. In fact, a home purchased in ‘04 could easily be taxed near (or, even beyond) its legitimate value, which could bring an interesting challenge.

While this isn’t a major problem for Michigan, another law to help the homeowner is causing surprising problems due to the tremendous rise in house prices in some markets. A Wall Street Journal article told of a “growing number of homeowners getting hit with an unpleasant surprise: a hefty tax bill.”

Back in 1997 a new law was expected to eliminate the capital gains tax for nearly anyone selling their primary residence, excluding $500,000 of the gain for most married couples ($250,000 for singles).

However, now that home prices have doubled in the U.S. (since ‘96) and even tripled in California, sellers across America are getting hit.

For example, if someone had a $400,000 home in California at the end of ‘96, it was likely worth $1.2 million last year. If it sold at that price, the couple would be hit with a $300,000 capital gain (after the exclusion), and a probable tax bill around $45,000.

Of course, when the half-million dollar exclusion became law the likelihood of getting hit fell on only a few. But then again, who expected over 200% appreciation in ten years, even in California?

It was much the same story for auto sales in March with GM and Ford losing market share to Chrysler and the Japanese. As total sales slumped by 46,000 vehicles or 2.9%, GM’s sales plummeted by 60,000 cars and trucks, 14.4% below March ‘04, while Ford’s sales were down 14,000, or 4.7%, taking their collective share of the market to 42.4% (the two largest American companies had over 50% of the market at this time in 2003).
For the first quarter, sales are up 1%, (41,300 vehicles) across the nation. However, GM’s down 48,000 (4.8%), and Ford sales are off 21,000 (2.8%). Chrysler continues to improve its situation (up 23,000) with its market share picking up some of the other Big 3’s decline. But Toyota and Honda continued as the “stars” of U.S. auto sales, gaining 55,000 sales over last year’s first quarter, along with additional market share of 1.4%.
Two years ago, the “Big 3’s” share of the market had dropped to 61.8%. This year it’s at 58.4%. While that’s a 3.4% decline in its total share, it’s down 5.5% from its 2004 level. The 3 major Japanese firms now hold 29% of the U.S. market, which represents a 12% gain over 2 years ago.

Some may wonder why the NAHB put out a “Legislative Alert” regarding the current attempt in Washington to come down on illegal immigrants. Well, perhaps a little note in “BusinessWeek” provides the answer: In the April 10th issue’s “upFront” page, the Magazine writes:
“Jobs Americans won’t do? After farming (24%) and custodial jobs (17%), construction is the U.S. sector with the biggest percentage (14%) of illegal immigrants. Construction jobs with the highest concentration include ... Insulation workers (36%); Roofers (29%); Drywall installers and tapers (28%).”

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Existing Market Activity

Existing home sales soared in February according to National Assoc. of Realtors’ data. While homes sold at a rate of 6.9 million units, with median prices up 10.6% from a year earlier, the NAR’s release was surprisingly muted, noting how sales and price gains will soon return to more normal levels with the use of terms like “signs of stabilization” and “single digit appreciation.” However, there were no commentaries on the rising inventory, which the release showed at 3.03 million units, up 5.2% from January.

The problem: While the median price is up 10.6% from last February, it’s down 3.7% from June. And, it’s remained below June’s level for all but 2 months since. Furthermore, it declined every month since October.

And, complicating these price data are the inventory numbers (up 40% from January ‘05) and adjustable mortgage rates (up 62% from March ‘04 [3.41% to 5.5%] to present). While affordability indexes show homes re-main very “affordable,” they’re based on median incomes and conventional loans. However, in the nation’s high priced markets, homes are only affordable with lower interest ARMs, and in many cases, more ‘exotic’ programs like option and interest only loans.

In May’s issue of Housing Quarterly we look at the impact of higher rates that show interest payments rising 101% in markets with the strongest rates of appreciation, when financed with a 90% ARM at Freddie Mac’s average rate. And, that’s just from the 2004’s first quarter to ‘05’s fourth. And now, rates are up another 0.5%

When we look at the soaring inventory, and recall that many homes financed with ARMs in recent years have mortgages coming due, we can see how much more difficult is to sell a $1/2 million house today than a $400,000 home in early ‘04. So, again we point to the likelihood that median prices will actually decline on a year-year basis.

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

A retirement program you may want to consider is a "simplified employee pension," or SEP.
SEPs are intended as an alternative to "qualified" retirement plans, particularly for small businesses. The relative ease of administration and the complete discretion you, as the employer, are permitted in deciding if, or not, to make annual contributions, are features that are especially attractive. Here's how these plans work.
If you don't already have a qualified retirement plan, you can set up a SEP simply by using the IRS model SEP, Form 5305-SEP. By adopting this model SEP, which doesn't have to be filed with the IRS, you will have satisfied the SEP requirements. This means that you, as the employer, will get a current income tax deduction for contributions you make on behalf of your employees. Your employees will be taxed not when the contributions are made, but at a later date when distributions are made, usually at retirement. Depending on your specific needs, an individually-designed SEP-instead of the model- may be appropriate.
When you set up a SEP for yourself and your employees, you will make these deductible contributions to each employee's IRA, called a SEP-IRA, which must be IRS-approved. The maximum amount of deductible contributions that you can make to an employee's SEP-IRA, and that he or she can exclude from income, is the lesser of: (i) 25 percent of compensation, and (ii) $42,000 (for 2005). The deduction for your contributions to employees' SEP-IRAs isn't limited by the deduction ceiling applicable to an individual's own contribution to a regular IRA. Your employees control their individual IRAs and IRA investments, earnings on which are tax-free.
There are other requirements, which you have to meet to be eligible to set up a SEP. Essentially, all regular employees must elect to participate in the program, and contributions can't discriminate in favor of the highly compensated employees. But these requirements are minor compared to the bookkeeping and other administrative burdens connected with traditional qualified pension and profit-sharing plans. The detailed records that traditional plans must maintain to comply with the complex nondiscrimination regulations aren't required for SEPs. And employers aren't required to file annual reports with IRS-Forms 5500-which, for a pension plan, could require the services of an actuary. What record-keeping is required, can be done by a trustee of the SEP-IRAs-usually a bank or mutual fund.
Another option for a business with 100 or fewer employees is a "savings incentive match plan for employees" (i.e., a "simple" plan). Under a simple plan, a "simple IRA" is established for each eligible employee, with the employer making matching contributions based on contributions elected by participating employees under a qualified salary reduction arrangement. The simple plan is subject to much less stringent requirements than traditional qualified retirement plans. Or, an employer can adopt a "simple" 401(k) plan, with similar features to a simple plan, and automatic passage of the otherwise complex nondiscrimination test for 401(k) plans.

Jeff Sabolish, CPA, CFP

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

All Night Wal-Mart for Spring Break?

With a little ingenuity, anyone can make it to national news, and we really must give credit deserved to Skyler Bartels, the Drake (Iowa) University sophomore, who spent his Spring break (well, at least 41 hours of it) at an all night Wal-Mart in Des Moines. Bartels made it on Good Morning America and CNN’s “offbeat news” page.

While he bought meals at the in store “Subway” shop, he was only able to sleep a few hours in lawn chairs and a rest room stall. So, awfully tired (and somewhat bored we presume) he left after 41 hours, believing his experiment was a failure (he had planned to spend a week).

However, after the Des Moines register picked up on the story, a deluge of national media followed, causing Bartels changed his mind.

Now, the aspiring writer’s talked to a book agent, and has been contacted by New Line Cinema about a “movie concept,” which is sure to gain academy award consideration.

While a Wal-Mart spokesman said Bartels neither violated store policy nor broke the law, the company won’t condone what he did. As he pointed out to a reporter, the company’s a “retailer, not a hotel.”

However, with a possible movie coming, we have to wonder if Bartels’ adventure will do for Wal-Mart, what “Where the Boys Are” did for Ft. Lauderdale in the 1950s? And, with clearly the “best” all night Wal-Mart in the nation, perhaps Grand Blanc is primed to become a major “Spring Break” destination.

Seinfeld Briefs:

A former Michigan (material) girl is having a major impact on real estate prices... unfortunately, not back home, but in Rosh Pina, “an upscale village in Israel,” according to “People” magazine. Though Madonna hasn’t visited the village (yet), the magazine quotes a local real estate agent claiming, “prices have skyrocketed!”

The agent further noted, “people are dying to sell their homes to Madonna,” and we can understand: A resident said she was offered $1 million for a $500,000 home.. ...The City of Beijing instituted a fine of 50 yuan ($5) for public spitting in an effort to clean up its image for the ‘08 Olympics. It reminds us of an ideological “sister” city (Ann Arbor) initiating a $5 fine to cut(?) “pot” smoking. We’d bet Beijing has better luck.

“Seinfeld” Quote: The former president is young enough for a second act, and the commissioner’s job is, above all, politics. The nation deserves a commissioner who can truly feel the pain of Cardinals and Lions fans. A Clinton term would be worth it just to see how he would handle the Vikings’ sex scandal. (High fives, maybe?)

Sports Illustrated Football Columnist Peter King musing as to Bill Clinton’s potential as NFLcommissioner

Barry

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Association News and Events by Laura

When the Spring Parade of Homes opens on the traditional “Mothers’ Day” weekend, we’ll have 44 models spread across Genesee County, after a flurry of entries on March 15th. While the Grand Blanc (11), Fenton/Linden (8), and Davison (8) areas have the largest concentrations, there are 4 each in “Flushing,” and Burton, five in “Swartz Creek,” and 2 each in the Clio and Goodrich areas.

While the event is highlighting more luxury models than usual, there are still a significant number of homes “affordably priced.”

What’s unusual about this event is that one can attend by a number of modes of transportation: seven are accessible by boat; 44 by car; and one by airplane, as there’s an entry on the new Linden air-strip.

The event runs from May 13th through the 28th, with hours noon to 6 on week-ends; 5 to 8 p.m. Thursdays and Fridays .... closed Monday through Wednesday!

Note two of last fall’s award winners on this page.

Housing Quarterly magazine should be your mailbox by May 10th, with articles about the housing industry and feature on the Parade ... If you want extra copies for distribution, call 810.603.2200

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New Construction and Sales Activity

Sales Down-Inventory Soars - ------Sometimes, headlined just won’t change: When sales fell to an annual rate of 1.2 million in January, it combined with the additional 8,000 units added to inventory that month to create a 5.3 months’ supply, up 10.4% in comparison to December. Well, when sales declined to a 1.08 million rate in February, it drew the new inventory level to 6.3 months.
But, the real indicator regarding inventory are data showing 102,000 more homes on the market at the end of February than a year earlier, up 22.9%.
While the decline in the sales’ rate was the highest in the past 9 years, the fact it was February may temper the severity of the decline. And, as the graph shows, sales have experienced wild swings, and changes of direction, over the past 8 months. However, inventory has been on a consistent ride upward since April ‘05, and its growth has been picking up steam since October, rising 57,000 units (11.6%) in just four months.

Housing Starts As you can to the left, single-family starts are running ahead of last year, based on January’s solid numbers. For the first two months, they’re up 2.9% from 2005’s record level. However, a segment seemingly suffering is condos, where buildings with 2 to 4 units are down dramatically. Only 4,900 have been started so far this year, down 28% from 6,800 through February 2005.

Local and Regional Before we put much emphasis on early ‘06 activity, let’s recall that early 2005’s numbers were impacted dramatically by early pulling of permits to beat the energy code that was originally set to go into effect on February 28th. So, the drastic decline is distorted by the exceptionally high level of permit activity a year ago.
However, if we compare 2006 to ‘04, we see the trend of late last year continuing, and it’s not a pretty sight, for the county, or the region as a whole.
According to data by Housing Consultants the nine Southeast Michigan counties authorized a total of 1,456 single family and condominium permits through February as compared to 2,758 in 2004 (3,138 last year), representing a decline of 47%. And, for the same period, Genesee Co. activity fell from 212 units (‘04) to 104, a decline of nearly 51%.
While all the major counties are down severely, Livingston is off by 248 units (74.3%), and Oakland’s permits fell by 365, taking them down 53.7%. While 2004 was the industry’s strongest in decades, the current decline is sobering at best.

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Look Here for Previous Issues of Veritas

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")