November 4, 2005

Inside Veritas -
Article 1 - Tax “Reform” Proposals Hold Serious Danger for Housing
Article 2 - Housing and Economic Briefs: Income; GDP; above forecasts
Article 3 - Existing Market Activity
Article 4 - Mortgage Rate Activity
Article 5 - Taxation and Finance by Rachor; Purman & Tucker CPAs
New Tax “Credit” for Energy Efficient Homes
Association News Update From Laura
New Construction and Sales Activity
BS: Still about Nothing in particular
"Big 3" Hit New Low in Market Share
Would you like to see a previous Veritas Issues? Click Here

Tax “Reform” Proposals Hold Serious Danger for Housing

It probably should have been a day earlier because the proposals the President’s “tax reform advisory panel” submitted on November 1sr was filled with “treats,” but also contained a number of “tricks.” Un-fortunately, housing got hit with the tricks!
But most annoying is that, while these proposals will never become law, they’ll consume millions of human hours and billions of dollars in wasted activity (not to mention the waste of paper and ink) by organizations with a stake in the tax code to assure these insane proposals won’t see the “light of day.”
The proposals would do the following: Cut capital gains tax to between 3.75% and 8.25%, in one proposal (tax interest and all capital gains at 15% in the other; Reduce the number of tax brackets (top marginal rate would be 30% in one; 33% in the other); Capping the deductibility of Health Insur-ance Premiums; and, of course, “simplify” tax filing. But, the one that will really galvanize the troops is the change in housing tax incentives.
First, the panel recommend lowering the mortgage interest cap (the amount of the loan on which homeowners receive a break for interest paid) from $1 million to the regional average house price ($227,000 to $412,000). The deduction would be converted to a 15% “credit” on the amount of interest paid up to the level of the cap. Further-more, all state and local taxes would no longer be deductible (property taxes as well).
Even before the proposals were official, the National Builder and Realtor Associations made note of their likely negative impact on housing values in the U.S., as the real cost of purchase would rise dramatically.

On the other side, the Wall Street Journal’s editorial board called it a “sensible pro growth launching pad.”

So, brace yourselves. As we turn the National Debate away from Scooter Libby, Sam Alito, and Harriet Miers, we’ll be hit with a barrage of pros, cons, and disaster claims, over this new fight for “reform.” But remember, 20 years ago we argued against a proposal that, we said, would devastate commercial real estate, to no avail. We were right then ... and, we’re right on this issue as it relates to housing.

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Housing & Economic Briefs: Income; GDP; above forecasts

On Halloween, the Commerce Department announced personal income rose at an annual rate of 1.7% in September, well above the 0.4% rate anticipated by a survey of economists. At the same time, the Department said Personal Consumption rose as well, up 0.5%, after declining at the same rate in August.
What may be more important in regard to the health of U.S. consumerism is that personal disposable income not only rose 1.9% in September, but was revised to a 1.1% jump in August. Originally, August’s number was reported as a 0.1% decline.
The other closely watched item in the monthly report, the “price index for personal consumption,” showed that inflation (disregarding food and energy) is running at a 2% rate over the past 12 months, the high side, but still within, the Federal Re-serve’s “comfort zone.”
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The previous Friday we received the news that the impact of Gulf Coast hurricanes was less than expected, as Gross Domestic Product rose at a 3.8% rate in the third quarter. While the data show the economy continues to grow, it confirmed it “weathered” the devastation from “Katrina and Rita,” and that growth was significantly stronger than expected.
While the consensus forecast of economists was for 3.6% growth, there’s a feel

ing within the analyst community that, without the storms, a rate in the mid 4% range would have been achieved.

What’s somewhat amazing in recent GDP reports is just how stable growth’s been during the past 2 years. The highest rate during that period was 4.3% in the first quarter of ‘04, while the lowest was 3.3% in last year’s fourth quarter (see chart), representing the longest streak of such stability since the end of World War II.

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U.S. manufacturing activity experienced another month of solid expansion in October, as represented by the Institute for Supply Management’s reading of 59.1 (recall, readings above 50 mean sector expansion).

Like the GDP and Income re-ports, the ISM surpassed forecasts by a solid margin. Still, as we’ve been noting for several months, we’ve yet to see any notable results from, what is now, a 29 month expansion. Its employment index continues to show growth, now for 22 of the past 24 months, but its promise to eventually show up remains hollow. September’s estimates suggest manufacturing sector employment’s down 100,000 in that 2 year period.

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Construction spending set another record in September, rising 0.5% to a whopping seasonally adjusted rate of $1.12 trillion. As would be expected, residential construction led the way, up a full 1% at an annual rate of $624.3 billion, according to Commerce Dept. data. Also, office and commercial building construction showed big gains.

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A recent “Businessweek” article focused on a growing housing movement: “3 Generations Under One Roof” told of growing numbers of extended families living together due, in part, to the soaring home prices in many of the nation’s most ex-pensive markets.

While we’ve all noticed the rise in upscale homes with dual master suites and “in-law quarters,” the article quoted Censusdata that show the “number of households with three or more generations living under 1 roof grew 38% from 1990 to 2000, versus 8% for those with just 2 generations.” In fact, the data suggest that 4% of U.S. households (5.6% of California’s) are now multi-generational.

Of course, while costs motivate some, a significant reason for the rise comes from large numbers of immigrant families from cultures where multigenerational living is the norm, rather than the exception. Still, it is a growing segment of the housing market, and one that’s likely to grow even stronger in the near future.

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In a way, it came as a real surprise when “Money” magazine found that the “Motor City” is the most expensive place in America to own a car. Quoting a study by “Runzheimer International” that calculated costs, based on a “fully loaded 2006 Ford 500 SEL (driven 15,000 annually for four years), Money said the annual cost in Detroit was “an amazing $11,844.”

Why the extreme cost? How about auto insurance at a rate of $5,162! So, with exorbitant property and income taxes, we now find there’s “another” reason why homebuyers are likely to avoid Motown.

After Motown, it’s the city of Brotherly Love that comes in second, though still a hundred per month less than Detroit. The least expensive on the list was Knoxville, where the same car would cost $7,399 in a year.

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Existing Market Activity

It’s now the seventh consecutive month that existing home sales have remained above the 7 million rate as realtors report September’s activity was at the same level as August (second highest on record). However, it was the south that seemed to carry the industry, as the West and Midwest were both down from August, while the Northeast is was up marginally.

Prices continued their double digit climb, up 13.4% from 9/04 at a median price of $212,000, and inventory rose to 2.85 million (a 4.7 months’ supply).

Michigan/Flint Area

As you can see below, sales are virtually flat in comparison to 04 at both the state and local level, as are prices (up 1.4% in Michigan, down 1.2% locally). However, from a local perspective, we find that prices in the past six months are up significantly, and averaged $143,075 during the second & third quarters (9.5% above ‘04’s level).

As we’ve been noting for several months, the local concern has been the amount of inventory, with nearly 6,000 listings on any given day. Sales were at 576 in September, making the quarterly total 1,669, which corresponds to an annual rate of 6,025 units. So, at the quarterly rate, inventory stood at an 11.5 months’ supply.

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Mortgage Rate Activity

By the look of the in the “7 Weeks” chart, the direction of 30 Year Fixed rates is rather obvious. In fact, they passed the 6% plateau during the week of 10/13, the first time since the last week in March. What’s notable is the consistency of the past seven weeks, almost suggesting the bond market may finally be buying in to Federal Reserve policy.

We’d also point out that October’s average (6.07) was the first month since July ‘04 that fixed rates averaged above 6%. And, as bond prices continued to decline late last week, we’d expect the gradual rise in fixed rates to continue in the immediate future.

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Taxation and Finance by Rachor; Purman & Tucker CPAs
New Tax “Credit” for Energy Efficient Homes

Under a provision in the recently enacted Energy Act, eligible contractors can qualify for a new tax credit when they construct qualified new energy-efficient homes. (Tax credits are more valuable to taxpayers than deductions because they are subtracted dollar-for-dollar off the bottom line of your federal tax bill.) The credit is either $2,000 or $1,000 per qualifying home.

Here is an overview of the new credit.

Credit requirements:

To qualify, the structure:

(1) Must be located in the U.S.;

(2) Its construction must be substantially completed after Aug. 8, 2005, and it must be acquired in 2006 or 2007;

(3) Must meet specific energy saving requirements explained below;

(4) Must be built by the "eligible contractor" (the person who constructed the home,

or the manufacturer, if the structure is a manufactured home); and

(5) Must be acquired by a person from the eligible contractor for use as a residence during the tax year.

When the $2,000 credit applies.

A home qualifies for the $2,000 credit if it: Is certified in accordance with guidance to be issued by IRS to have a projected level of annual heating and cooling energy consumption that meets the standards for a 50% reduction in usage, compared to a comparable dwelling built in accordance with the standards of chapter 4 of the 2003 International Energy Code as in effect on Aug. 8, 2005, and the Federal minimum efficiency standards specified in the Code and its building envelope component improvements account for at least one-fifth of the 50% reduction.

A manufactured home qualifies for the $2,000 credit if it meets the above requirements and conforms to Federal Manufactured Home Construction and Safety Standards (section 3280 of title 24, Code of Federal Regulations).

When $1,000 credit applies.

(Editor’s Note: The $1,000 credit applies to Manufactured Homes specifically: If you’re interested in the details, call Barry at the association office.)

Other rules.

The new credit is part of the general business credit. No credits attributable to energy efficient homes can be carried back to any tax year ending on or before the effective date of the credit. There's a basis reduction in the property for the amount of credit claimed.

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

PGA Stuck in the Deep Rough?
A year or so ago, we noted the plight of the golf industry, as the number of rounds played each year were declining at a rapid pace. Golf courses, already the only “green space” decried by environmentalists, were struggling for survival. Private clubs were begging for members and (ironically) public courses were being converted (en masse) to housing developments. But, with Phil Mickelson challenging Tiger Woods for the hearts of fans, the PGA appeared to be thriving.

However, appearances can be deceiving because the driving force of professional sports, television advertising revenues, may be poised to impact the PGA in much the way they hit the National Hockey League last year.

Over the past four years, ratings for PGA tournaments fell 19.4% according to Nielsen Media research. Consequently, ABC, NBC and CBS will likely lose a combined $50 million on their golf contracts in 2005, and are about to embark on negotiations for a new (four year) deal beginning in ‘07.

The truth is, the golf season begins winding down in late summer as its star attractions only play sporadically after the final major (PGA Championship) event (after all, the season begins in January). And, golf just can’t compete for weekend audiences with football (NFL & NCAA) or NASCAR’s

“Chase to the Cup,” yet it runs into November.

Last month Businessweek reported “PGA Bigwigs are considering moving the season ending Tour Champion-ship to mid September,” which would, realistically, cut the schedule by seven or eight tournaments. Would anyone like to guess which of “Buick’s” sponsored tournaments would likely be cut out?

Seinfeld Briefs:

Had to laugh Tuesday at a Tuesday morning “news” show coverage of the “Alito” Supreme Court nomination. They showed a photo of the nominee’s family, ironically standing under the (Bill) Clinton portrait that hangs in the White House. The photo’s illusion had Clinton’s hand on the shoulder of Alito’s “attractive” daughter, and the obvious commentary followed. That morning “news” show is the relatively new (on Detroit’s UPN 50 since 9/12/05) ... so, we’d add, if “Good Morning America” and/or “Today” put you back to sleep, you may want to give UPN’s “Daily Buzz” a try from 5:00 a.m to 8!

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Association News and Events by Laura

Welcome New Member

Mogford Concrete
Michele Mogford
Sponsor: Kathy White

The October meeting’s “Night at the Derby” was an evening of “fun” for the more than 100 members and guests in attendance, with six “winners” taking home a variety of dinner and movie certificates. It was a first experience with “interactive” entertainment and, we’re confident, it won’t be the last. In fact, judging by the shouting and cheering during throughout the event, we’ll likely do something similar sooner than later.

On that note, we wish to, once again thank the Michigan Construction Industry Mutual (MCIM) (see below) for its sponsorship of the “Night at the Derby.” And, wish to extend another “Thank You” to our October meeting sponsor, James Lumber, for the refreshments that lasted well into the night.

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Also during the evening, we held we held our annual “Board of Directors’” elections, and passed amendments to our Bylaws that transfer the election of officers to the Board.

As nominated, Ted Macksey, Bart Horcha, Mark Nemer, Bob Vance, Tim Glavin and Vic Lukasavitz were all elected to the Board. Officers for 2006 will be chosen at the “annual” Direct-ors’ meeting in December.

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As we highlighted on page #1, the annual Holiday Open House at the BAMF office is set for Wednesday, November 30th, beginning at 4:00 p.m. and running to 7:30 (and likely beyond). This is the event we added in 2001 as a way to say “thanks” has been the traditional “kick-off” to the Holiday Season ever since.

With hors d’oeuvres by “Elegant Catering,” deserts by Laura, and liquid refreshments by Tracey, it’s become a favorite of members and friends alike.... So, mark it on your calendar today, and don’t forget to join us on the 30th!

It’s at 3059 Tri-Park Drive (off Dort, between Grand Blanc and Reid Roads) --- and, please let us know that you’ll be there by calling (810) 603-2200.

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Finally, as you’ve probably noticed, we’ve slightly changed the look of this issue of Veritas, and hope you like this “test run,” which may lead to additional upgrades in the future.

New Construction and Sales Activity

There hasn’t been much to suggest there’s any slowdown on the way for the U.S. housing industry. As you can see below, single family starts have been running ahead of last year’s record pace for six consecutive months, and are currently 6.3% ahead of ‘04’s first three quarters. And, we can anticipate the run will continue since permits were on the rise in September, up 4.4% from August.

Also, we found sales running way beyond last year’s record level as well. The Department of Commerce data for September show the sales’ rate at 1.22 million units, with 995,000 new homes sold through the first 9 months, up 6.4% from the first three quarter of 2004.

However, perhaps more notable is the importance of, just, one section of the nation to the soaring 2005 sales’ rate. While sales are up by 60,000 units on a year to date basis, the South is responsible for 86.7% of the rise, and the West is responsible for the rest.

While this may seem shocking, it shouldn’t come as all that much of a surprise considering a Florida market that’s currently responsible for nearly 30% of the U.S. rise in construction.

State/Region/Local

If we were to believe Census Bureau data, things are booming in rural Michigan. While its Metropolitan data show single family permits down 21.2% for the first nine months (in comparison to ‘04), its “Statewide” numbers show a mild decline of 2,500 units or 7.3%. In other words, the Bureau would have us believe that rural Michigan is running 17.7% ahead of last year --- We can only hope that no one (of significance) places any credence in the statewide data, as they’re derived more from estimates than reporting.

Its Metropolitan data, on the other hand, at least in entirety, correspond (reasonably) to the permit counts of Housing Consultants in Southeast Michigan, which show single family and condo activity down 3,488 units (18.5%) in comparison to 2004, with Genesee County down by 116 units (7.5%).

However, it’s been an unusual year for Michigan, with permits booming early in the year. As you can see in the chart in the final column, the local data have been down in each of the past six months.

So, we looked at 2nd and 3rd quarter data for an impact, and found: Since the end of March, the Southeast Region is down 29.9%, while Genesee County is off 21.5%.

While these numbers seem drastic, one has to remember that the industry built at a modern day record level in ‘04. By year’s end, we’d expect local numbers similar to 1997, in the 1,700 to 1,800 range.

"Big 3" Hit New Low in Market Share

While U.S. Auto sales plunged to their lowest level since 1998, the “Big Three’s” market share dove to new depths. And, while General Motors and Ford sales declined 26% in October, compared to October ‘04, Chrysler (which had been gaining sales most of ‘05) also slipped, though only by 3%.
The only companies that showed year over year gains for the month were Toyota (1.3%), Honda (0.4%) and Mitsubishi (1.4%).
In all, sales totaled 1.147 million for the month, down nearly 190,000 from last October. More troubling, however, is the decline in U.S. market share, which was down to 55.2% for the month.
Chrysler immediately responded to the downturn by announcing a $1,000 incentive, and we can assume that Ford and GM will follow suit.
As you can see below, October had an impact on year to date data, as the “Big 3’s” market share fell to 60%, down 1/2% from the nine month data featured in our previous issue. Now, the decline is up to 3.1% of the U.S. market since the same period in 2003. During the same period Japan’s three largest companies gained 3.9% of the same market.

Look Here for Previous Issues of Veritas

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")