May 12 , 2006

Inside Veritas -
Article 1 - "Vegas Night" awinner; Parade opens May 13; Golf outing next
Article 2 - Look behind the NAR verbiage and check actual price & inventory data
Article 3 - Housing and Economic Briefs: Job growth down; GDP up!
Article 4 - April Auto Sales: Toyota beats DCX
Article 5 - Taxation and Finance by Rachor; Purman & Tucker CPAs
Expensing assets: Option thru 2007
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" awinner; Parade opens May 13; Golf outing next

That “special evening of fun” turned out great in April as you can tell by the group at the “Texas Hold-Em” table below. Of course, the action was hot at the Blackjack and craps tables as well as the BAMF held a “Las Vegas” night for its members for the final meeting prior to summer. We want to extend thanks to Wimsatt Building Materials for sponsoring the refreshments, and Michigan Construction Industry Mutual (MCIM) for its sponsorship of the Vegas games.

Parade of Homes
If you’ve driven on an X-Way anywhere in Genesee County over the past couple of weeks, you’re likely aware the Parade of Homes opens Saturday ......

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Look behind the NAR verbiage and check actual price & inventory data

When the National Association of Realtors released its sales’ data for March, most of the major media sources hit on “surprising” growth in the rate of sales, nearly taking the release verbatim. While there were references to the record high inventory, most focused on the NAR’s lead that “sales edged up in March following a strong rebound in February,” and the median price level up 7.6% went along with its prior assessment that price growth would moderate to single digit levels. But a look behind the verbiage (the NAR’s raw data) finds the verbiage deeply understated.

First, when we look at price data (recently revised), we’ve got a distinctly different view of growth. Reality suggests a decline in prices of 4.8% over the past ten months (with no monthly rise since October). If prices remain flat in April, the year - over - year price growth falls to 1.86%, which is virtually zero and actually negative if indexed for inflation (see chart)

Secondly, a look at inventory shows a rise far more dramatic than the release’s reference. While the 3.19 million homes on the market are up 7% from February, they’re up 39% from a year earlier. But what’s more notable is that it’s up 48.8% from January 2005.

What’s somewhat alarming is the fact that inventory’s rise over the period came at a time the number of sales soared to an “unsustainable” rate. However, there was an earlier re-lease that didn’t receive much attention that shows just how “unsustainable” 2005’s sales’level was. A year ago we were shocked to find investment and vacation homes made up “36%” of 2004’s record home sales. After all, the arguments against housing’s bursting price “bubble” maintain houses provide shelter (a necessity) while more traditional investments are primarily speculative.
So, we couldn’t help but note the NAR’s April release stating second homes were responsible for “39.9%” of last year’s record home sales (new and existing). Of the total 8.358 million homes sold last year, 1.02 million were vacation homes and 2.32 million were homes sold for investment purposes.
Whether it’s the NAR’s 39.9% last year, or the 36% a year earlier, a massive number of recent years’ record sales were for a reason other than the traditional purpose of home ownership.
So, a decline in the value of investment and vacation property would have more serious repercussions on housing markets than those anti-bubble theorists have suggested.
Ironically, the day following the NAR’s release, the Wall Street Journal published an article focusing on the decline of sales in what were, recently, the “hottest” markets in the nation, noting the decline could soon put “downward pressure on prices.” The article quoted the Florida Assoc. of Realtors stating sales were down 20% in February statewide, and 47% in Naples. Well, we checked condos in “Naples” and found 4,321, all built in 2005 -’06, listed on the market from $269,900 to $1 million, like a condo development where 800 foot units are listed from $267,000 and $325,000, and larger units from $299,900. In all, the southwest Florida city considered “most likely to experience a house price collapse,” had 13,364 homes on the market at the time, of which 9,893 were less than a year old.
By the listings, it appears there were far too many homes built in the last year for the purpose of investment, as the photos of the developments suggest few are occupied, but the number of realtors in each development suggest varied owners per unit.
Regarding state and local activity, sales were reasonably solid during the first quarter, running roughly at the rate of 2004’s 1st quarter. However, the 1,069 local sales when adjusted from a seasonal perspective, suggest homes sold at an annual rate of 5,567, meaning the supply of homes on the market at the end of April would take 13.1 months to sell at the 1st quarter sales rate.

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Housing & Economic Briefs: Job growth down; GDP up!

What is “positive” economic data? When the Labor Department reported job growth down, not only below April’s expectations, but for March and February as well, both stock and bond markets took off (they both went the opposite direction when the Commerce Dept. said the economy grew at a 4.8% rate, strongly up from 1.8% in the 1st quarter).

What was interesting about the “jobs” report was a rise in the average work week, and a larger than expected jump in hourly wages. The point is, while markets responded positively to less job growth (under the premise it would help end the Federal Re-serve’s string of rate increases), the underlying data suggest real concerns about inflation.

Anyway, the positive news for housing is the bond market response, which stopped the continuous surge in 10 year rates and, hopefully, will slow the re-cent rise in fixed rate loans.

We haven’t looked at the manufacturing report from the Institute for Supply Management in the past few months, since it’s been showing, pretty much, the same level of growth. However, the April report’s jump of more than 2 points (55.2 to 57.3) got our attention. However, finding the ‘employment sector’ showed a growth rate of 6.2% (up 3.3 to 55.8) got us wondering if there was evidence of a “manufacturing jobs’ upturn.” If you recall, the “institute” maintains that “an employment index above 48.9, over time, is consistent with an increase in BLS data on manufacturing employment.”

Well, with the possible exception of a month or two, the index has been above that level since November ‘03, when manufacturing employed 14.32 million.

The April ‘06 BLS report has manufacturing jobs at 14.25 million ... Which is why it’s been a “few months” since we reported the Institute’s findings.

Oh! and on a Michigan note:

Manufacturing jobs declined by 41,400 during that period in the “Water Wonderland.”

On a housing note, we found the California Realtors’ sales’ reports for 2006 quite enlightening. What’s amazing is the steep decline in sales, compared with the (nearly as) steep rise in the state’s price levels.

Through the first quarter, sales have declined 18.3% from ‘05’s rate of 634,100 to an ‘06 rate of 517,800, with inventory up more than 100%. The median price in March 2005 was $496,900: This March it was $561,300.

California grabs our attention as it’s been responsible for nearly 9% of the nation’s home sales while showing the lowest rate of “affordability” of any state. (14% of its households could afford a median priced home with at conventional rates in late ‘05).

Since last year’s first quarter conventional rates are up 3/4%, and ARMs, which made those half million dollar homes somewhat affordable, are up 1.5%.

Our best guess is that homes that ARE selling in the “Golden State” are actually being sold at at discounted prices to the relatively few buyers that can actually afford a California priced house....And, as you can see below, $561,000 may not buy much in that over-priced market. This 900 square foot ranch is priced at $592,000 (close to the median price of San Luis Obispo) with an “estimated payment” of $2,856 per month. We’d bet the owners would accept a $560,000 offer without blinking.
We often mock newspaper headlines in these columns for presenting a distorted view of the article that follows. Well, this past Sunday, the Flint Journal may have reached new depths.
While a front page article told of a decline in local housing activity during this year’s first quarter (compared to ‘05), it made the point (backed by the data used in the article) that sales were actually stronger than during 2004’s first quarter (which, ironically, was the biggest sales year in history).
So, what did the headline state? “Seems like no one is buying or building!” Though we’ve come to expect distorted headlines, this one was particularly annoying, coming on the weekend of the Realtors’ Home-a-rama and a week prior to the opening of the Parade of Homes.

Regarding the previous note: While first quarter activity was weak (as compared to recent years) it is in line with our previous expectations for ‘06 which suggests we’ll end the year with 1,100 to 1,200 new single family and condos. Realistically, that’s a solid level we had only hoped to experience back in the early 1990s.

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April Auto Sales: Toyota beats DCX

Total vehicle sales in the U.S. tumbled 4.2% from April ‘05, but at least one company was happy with the results. Toyota sold 15.3% of those cars and trucks, outselling Chrysler by 8,570 to become the nation’s # 3 auto company (for the month) and closed the gap on year-to-date market share to 1.1%.
Despite losing the # 3 spot, Chrysler did better than its U.S. counterparts, when its sales dropped 6.2%, as GM and Ford fell 10.7% and 6.8% respectively. And, it remained the only (semi) U.S. firm to raise its share of the nation’s market so far this year. GM and Ford are down a combined 2.2% through the first four months.
Of the major players aside from Toyota, only Honda improved its sales during the month, up 2.6% from last April.

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Taxation and Finance by Rachor; Purman & Tucker CPAs
Expensing assets: Option thru 2007
An important provision for small businesses and self-employed individuals in the recently passed American Jobs Creation Act of ‘04 is the extension through 2007 of the small business expensing provision that allows businesses to expense up to $100,000 of their assets, rather than depreciating them over several years. Here are the details.
Federal tax law provides that, in lieu of depreciation, a taxpayer with a sufficiently small amount of annual investment may elect to deduct such costs. For tax years beginning in 2003, tax legislation in 2003 increased the amount a taxpayer may deduct to $100,000 of the cost of qualifying property placed in service for the taxable year. In general, qualifying property is defined as depreciable tangible personal property (and certain computer software) that is purchased for use in the active conduct of a trade or business. The $100,000 amount is reduced (not below zero) by the amount by which the cost of qualifying property placed in service during the taxable year exceeds $400,000. The $100,000 and $400,000 amounts are indexed for inflation, making them $102,000 & $410,000 for ‘04. For ‘06 and later years, however, the $100,000 limit was scheduled to drop to $25,000.
The new law extends the $100,000 expensing limit for two more years, through 2007. It also extends for two years (1) the $400,000 amount, (2) the provision that includes certain computer software as qualifying property, and (3) a provision permitting taxpayers to revoke an expensing election on an amended return without the consent of the IRS.

Jeff Sabolish, CPA, CFP

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

Beware: Naked Carpenter Strikes
Thought we’d heard it all until CNN reported about the carpenter who “keeps his clothes clean by working in the nude.” According to the report, Percy Honniball, a 50 year old carpenter, was arrested, then charged with indecent exposure, after his client returned home early and found him “building bookcases in the buff.”

Honniball told officers that he stripped so as not to soil his clothes. However, the report also notes that he also said “working in the nude gave him a better range of motion and that a ‘skilled craftsman’ can work clothing -and injury -- free.”

While the current case took place in Oakland, the reporter found that Honniball had been caught working naked three times in Berkeley over the past six years, and had been on probation for the offense.

While the BAMF appreciates quality craftsmanship, and always encourages members to take whatever step necessary to provide the best, we haven’t determined whether we’ll have legislation introduced to “exempt” carpenters from the indecent exposure act. However, we will raise the issue for discussion purposes at the next MAHB legislative committee meeting.

Seinfeld Update:

We know you’ve all been concerned for the fiscal well being of Anna Nicole Smith since we reported on her legal woes in January ... particularly since her U.S. Supreme Court action had her siding with the President, against the state of Texas.

Well, the Anna Nicole/Bush alliance wiped out the other side, gaining a unanimous verdict (and eventually hundreds of million we can hope).

Seinfeld Briefs:

Same old Lions: Couldn’t help but laugh when told of Lions “violation” of the NFL players agreement. Not that they violated it, but because players complained that the workouts were too tough. A number of football pundits thought the team was on the right track in hiring a no-nonsense coach like Rod Marinelli. Well, apparently the team’s veteran players feel he’s working them too hard ... so, they complained to their union. Well, if attitude really matters, you can all look for another five win season.

Anna Nicole would be proud: Ironically, in the issue reporting the results of Anna Nicole Smith-Marshall’s Court outcome, we have a reverse situation from Kuala Lumpur. We found it somewhat fascinating to read that 33 year old Muhamad Noor Che Musa married 104 year old Wook Kundor (who he felt sorry for because she was “old and childless”). But, what we found thoroughly amazing is that Muhamad became her 21st husband ... then again, that’s a reasonable average of roughly 5 years per marriage.

Last winter we told of the communications’ executive who ran up a $241,000 bill at a New York Strip Club ... Well, last week we found a story about an executive of a charitable foundation embezzling $237,000 to pay a dominatrix. Abraham Alexander, a citizen of India, was sentenced to two years spent most of the stolen funds on “Lady Sage,” a Columbus (OH) based dominatrix (and the plane tickets to see her), according to a Reuters/AP report. (Rumor: Some believe ‘Lady Sage’ doubles as the trainer for the OSU football program)

Barry

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Association News and Events by Laura

2006 Golf Outing

Monday, August 14th
at Flushing Valley Golf Club

4 person scramble
10:30 shotgun start
Sponsored Contests
Lunch Anytime
Dinner at 4:30 p.m.
$100 per golfer
Door prizes galore

Hole Sponsorships $125 & $175

Tee Reservations beginning June 1
810-603-2200

..... Well, the same could be said for any one watching network television during the coming week.
The focus of the ‘06 event is the comparative ADVANTAGE of new home living from the excitement of 21st Century products and designs to low maintenance and energy costs. And, the participating models highlight those advantages far better than the spoken or written word.

Some notes on this Spring’s event:
44 models valued at $18.6 million The average value is $423,000 7 homes on the water; 1 on an airstrip 36 single family; 8 condos (2 attached)
The event runs through May 28th .... Noon to six weekends; 5 to 8 Thursdays and Fridays --

Housing Quarterly magazine is available at each model (and you’ll probably have received on by mail already). If you would like additional copies for distribution, call the association office and we’ll get them to you.

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New Construction and Sales Activity

Sales rise sharply but inventory continues upward .....
And, in response to February’s sales numbers, starts of single family homes slipped to an annual rate of 1.59 million in March, a 12% decline, while sales jumped above a rate of 1.2 million, which pretty much sums up the national picture on a short term basis regarding activity in the new home sector. In other words, sales and starts are solid, with starts actually running 2.2% ahead of 2005’s record rate. However, that does raise a couple of issues: First, while we’re building faster than last year’s record rate, inventory has soared 109,000 units over last April (24.4%). Secondly, prices have declined since August and are currently below their level of a year earlier. However, what’s most troubling in the March report is the sharp (6.5%) decline in the median price in just one month.
The fact that sales rose 13.8% while prices declined suggests builders were slashing to dump inventory after a weak previous month. But the jump in starts in the same month (and the corresponding inventory rise) sends a message that’s hard to decipher: What are they thinking?
The new home inventory data go right in line with the realtors’ existing home inventory data in our page #1 article, which also suggests a large number of “on the market” existing homes are actually new builds that are currently held by investors. So, the new home inventory numbers may well be way understated.

Regional/Local Activity
Things are not so complex in Southeast Michigan, where 1st quarter activity is well below re-cent levels. As you can see in the two charts (columns 3 & 4), the numbers are sharply down. At the regional level, we’re off 44.1% from the average of the previous three years. Genesee County alone is off 44.8% from the average of 2002, ‘03 & ‘04 (we ignored ‘05 because of the “energy code” distortions).
To put these data in perspective, we looked at some individual communities to compare all four previous years with 2006, and found: “Grand Blanc” averaged 90 first quarter permits in the previous years but had only 31 this year; “Fenton/Linden” averaged 68 but issued 32; Davison: 37 average, ten in ‘06; Vienna: 19 average, two in ‘06.

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Look Here for Previous Issues of Veritas

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")