December 2, 2003

Inside Veritas -
Article 1 - Michigan’s home appreciation still lags behind the nation
Article 2 - Regarding Veritas’ Schedule
Article 3 - Housing Industry News Briefs — November
Article 4 - Taxation and Finance - New tax revisions make year end review particularly important in ‘03
Article 5 -
Association News Update From Laura
Economic Update - Even Manufacturing Employment?
BS: Still about Nothing in particular
Housing Industry Update

Would you like to see a previous Veritas Issues? Click Here

Michigan’s home appreciation still lags behind the nation

   This morning the Office of Federal Housing Enterprise Oversight released its 3rd quarter House Price Index (measuring the real rate of appreciation across the nation) and Michigan (which led the nation during the final half of the ‘90s) continued to fall further behind the nation as a whole, ranking 44th of the 50 states. Michigan homes (on the average) gained 2.98% in value in the past twelve months, barely half of the 5.6% national average.
   The state’s low ranking has been continuous since late 2000, however this is the first time in eight years that Michigan’s 5 year appreciation rate has fallen below the national average. While an average home in the U.S. has gained 38% in value over the past 60 months, the average Michigan home has gained just 30%.
   The OFHEO report continues to show why we shouldn’t put so much emphasis on median price levels (see related brief on page 7). Earlier this month, the National Association of Realtors said metropolitan median prices rose 10.1% over the previous twelve months, which is nearly double the rate of appreciation.
   On a more local note, “Detroit’s” index was up 2.65% for the year while “Flint’s” rose 2.38%. Lansing led the state at 4.56.
   As we’ve noted in the past, there’s often a 100% differential between rising median prices and rising values at a time of historically low interest rates, and this seems to be the case at first glance of this HPI.

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Regarding Veritas’ Schedule

   Since summer of 1977, the Builders Association of Metro-Flint has published an association newsletter twice monthly, and for 22 years was able to consistently have it delivered in a timely manner. However, in 1999, we began to find that consistency was no longer a virtue as applied to the U.S. Postal Service, at least as it applied to “Pre-Sort Standard” mailing. Still, the service was normally tolerable, with most issues delivered in a reasonable period of time, at least for members in Genesee County.
   Last year, several issues were delayed for more than a week, and in 2003, things got worse. After problems early in the year, the late August and early September issues took nearly 2 weeks to get to their destinations, most arriving after the General Membership Meeting, presenting the proverbial “straw that broke the camel’s back.” So, beginning with the Special Issue of October 13th, we began sending Veritas first class, nearly doubling our mailing costs.
   Consequently, we’ve had to make some changes, the first of which is that Veritas will only be published once a month (unless “special issue” is necessary), normally at the end of each month’s first week. However, in this 21st Century world where some already consider printed matter obsolete, we’ll be adding a new service ... Continual updates on association and housing news on our website, www.bamfhome.com/ ... all with the same verve Veritas readers have come to expect (yes, “Seinfeld” section as well). So, look for the first “Veritas Update” coming in early November.

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Housing Industry News Briefs — November

  For several months we’ve made the point that far too much attention is given to median home prices. Our arguments relate to the fact that the media continuously gives the false impression that a rise in price levels is tantamount to a rise in values when, in reality, price levels are distorted by fluctuating costs of homeownership. And, our argument is consistently corroborated by the quarterly comparisons of the “Realtors” metropolitan price reports and the Office of Federal Housing Enterprise Oversight (OFHEO) House Price Index, which far more accurately reflects real variances in home values.
   Our concern? That higher mortgage rates will bring lower median price levels in the same manner that lower interest rates raised price levels, as more buyers purchase less expensive homes. As the media continue to misinterpret the data, it will create the false impression that homes are actually depreciating.
   Well, to validate our concern, along came a Wall Street Journal feature last month citing a study by Fidelity National Financial regarding the impact of higher interest rates on the 25 largest metro-areas in the nation. The study found that in 12 of the 25 areas, median prices will decline if fixed rates rise to 8%, with “Boston” showing the biggest decline.
   So, how does the WSJ interpret the findings? Well, how about, “a median priced home in Boston, currently worth $407,000, would see its price tumble by $59,000 by ‘06.”
   Now, if the Wall Street Journal doesn’t understand the difference between value and price level, what will Peter Jennings do with the story? Create a “War of the Worlds’” like panic?

“Et Tu” Detroit News? While we have come to expect antidevelopment commentary from the editorial pages of the Flint Journal, Free Press and Oakland Press, this past Saturday’s editorial in the Detroit News came as a shock. Citing a study by a liberal research group, the normally pro-growth News said “impact fees could be a useful tool in allowing governments to fairly spread the costs of development (such as roads, water and sewer lines).” The Public Interest Research Group in Michigan (PIRGIM) estimates its “proposed fees would impose $35,000 in additional costs for each new house or other development unit in Macomb Township,” according to the editorial. And, although the News finds that a “bit steep,” it endorses the idea in form of enabling legislation to allow such fees in Michigan. KolliFORNya here we come!

Immigrants to Stimulate; Alter; Housing Activity? A couple of articles caught our eye (last week) regarding the impact of immigrants on the housing market. The first came from NAHB, noting that immigration has accelerated since the census, with a net of about 1.5 million coming to this country annually." Furthermore, NAHB forecasts the annual figure to rise, averaging 1.7 million from 2002 to 2012, creating an even bigger market for “both rental and for-sale markets.”
The other article came from the Detroit Free Press, highlighting the difference in the housing desires of foreign born consumers. The primary focus of the Freep article was on cultural differences which were evident in some families building “mini-mansions on a highway that carries an average of 72,000 motorists daily.” The point of the article was that, in some cultures, it’s “prestigious to live in the center of a city” or on the main thoroughfare, where the home has higher visibility. In other words, why live in a secluded “gated community” where no one can see your apparent wealth?

(Irony Defined) Ann Arbor says “GO GREEN!” Despite the fact its home town offensive line virtually “paved over the Green (Spartans)” three days earlier, Ann Arbor made amends November 4, as its voters overwhelmingly approved its “Parks and GREENbelt proposal,” voting nearly 2 to 1 in favor of a 1/2 mill (30 year) levy to purchase development rights on more than 7,000 acres of farmland and open space in, and around, the city. Since a similar countywide proposal was defeated a few years ago, the City and Township kept the vote within their respective borders, virtually assuring victory before the voters went to the polls (AA overwhelmingly approved the previous proposal). So, despite a valiant effort by “Citizens for Responsible Growth,” the landslide in the “Peoples’ Republic of Ann Arbor” was hardly a surprise.
Of course, the real concern of builders and developers across the state is “will this cancer spread?” The answer is probably not! Unlike other central cities, Ann Arbor has a soaring tax base and extraordinary property values (by far the highest in the Midwest) — add to that its unique liberal bent, making it somewhat of a “joke” in many circles, and we doubt it will be seen as a target for aspiration from the Detroits, Flints, and Saginaws ... of course, if we’re talking the Grand Rapids' and KalamaZOOs, that may be another story!

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Taxation and Finance ---- New tax revisions make year end review particularly important in ‘03

With year-end fast approaching, this is an excellent time for a final analysis of your financial and tax planning to ensure you and your business take advantage of the numerous tax breaks available in the new, as well as older, legislation. It is vital to regularly digest and review pertinent financial and tax records.
This review should include analysis of the following:
* Cash Flow Schedule (listing of income and expenses)
* Asset/Liability Listing
* Insurance Policy Listing
* Financial Goals Statement
* Checklist for Financial Planning Review
* Financial Goals Statement
* Other Relevant Information

An annual review is especially important this year in light of the changes that have taken place in the markets and the revisions to the income tax laws by the $350 billion Jobs and Growth Tax Relief Reconciliation Act of 2003, as well as the continuing temporary phase-out of the estate tax laws.
To arrange your year-end meeting, please contact your financial and or tax professional.

R, P & T

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

Is Iraq a “Steve Forbes’ Flat

   Just when we thought the war in Iraq had something to do with a despicable dictator; or maybe terrorism, we find what’s perhaps a more frightening purpose. An early November Washington Post article told how Paul Bremer, the U.S. Administrator in Baghdad, placed a “Flat Tax” in Iraq with “no more than the stroke of a pen.” Bremer’s writ “will slash Saddam Hussein’s top tax rate for individuals and businesses from 45% to 15%.”
   Now, what’s scary about the decision to give Iraq a flat tax, is that it was discussed by Department of Treasury officials “before the war as preliminary planning,” according to the article. So, one has to speculate that, in at least some officials’ minds, there was thought of bringing the nation up from its ashes, with due credit to the concept.
   Since it’s frequently stated that states are mini-laboratories to try out concepts for the nation as a whole, could we be be viewing a Middle East laboratory for another Steve Forbes run in ‘08? Only Hillary could be so lucky!

Talk About “Conspiracies”

Though we’re often critical of Disney’s Network (ABC), one has to give them a lot of credit for its promotion of the new “reality” show (Simple Life) premiering 12/2. Prior to October, Socialite Paris Hilton was hardly known to mainstream America. Then she was featured on an NFL game broadcast for “dating” Bears’ linebacker Brian Urlacher.
Next, a hard-core video of Ms. Hilton appeared on the Internet, and “mainstream” reporters had something new to focus on (before Michael Jackson’s arrest). Now, her show debuts Tuesday, and we'll all be watching.

“Seinfeld” Briefs:
Say it ain’t so Ahrnoldt! Although we’ve come to question the ability of Oakland Press editorial writers to comprehend reality, we were somewhat concerned at its 11/24 lead that “Schwarzenegger may lead drive for ‘smart’ urban growth.” Not that we’re concerned about his activities as Governor ... but if he comes back from the future in “Terminator 4” to stop the “Sprawl” that eventually destroyed mankind in the 24th Century (or thereabouts). It could be the biggest environment sensitive movie since “Godzilla versus the Smog Monster.”
We always knew U-M Football was a “religion,” but now we have evidence. In a dispute between a homeowner and neighborhood association, the Court said stonework that read “Jesus is King” was not in violation of deed restrictions. Said defendants’ attorney, it’s comparable to flying the U-M Flag in support of the football team. “If you can say you’re for U-M, you can say you’re for Jesus,” she told the Oakland Press.

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A quote for the times by Sophie Freud (a psychology Professor no less) regarding Sigmund: “In my eyes, both Adolf Hitler and my grandfather were false prophets of the 20th Century."

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Association News and Events by Laura

   The 3rd annual Holiday Open House is set for Wednesday, December 10th, beginning at 4:00 p.m., and supposedly ending by 7:00, at the Builders Association Office (3059 Tri-Park Drive; Grand Blanc). Don’t forget to join us for hors d’oeuvres, libation, and the holiday spirit that’s put this event on the “must attend” list since its inception in 2001.

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And, regarding the Holiday Season, just a reminder that the office is traditionally closed between Christmas and New Years. However, staff will be in the office frequently during the period so, if you need to reach them, just leave a message ..... you’ll probably be surprised as to how quickly they get back to you.

   The 1st General Membership meeting of ‘04 is set for Wednesday evening January 21st at Bonaparte’s. We’ll be announcing details at the beginning of the year, however, this is the event where we have the formal installation of the new Officers and Directors elected in November, and the presentation of awards and recognition from 2003. So, mark the date on your calendar today!

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Planning on attending the NAHB convention in Las Vegas? The early registration period is nearly over. Unless you’d like to register in line, better go to www.buildersshow.com/ and register on line. NOTE: The final date for early registration is Wednesday, December 17, 2003 ....

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On another note: NAHB dues will rise to $140 in January, which represents the second $10 of a $30 increase (the final increase will come in ‘05). So, your dues statements, beginning in '04, will reflect the increase. Remember, of the 480.00 you'll be billed, only 279.00 are for the BAMF ... and the remaining 201.00 is for MAHB and NAHB.

Economic Update: Even Manufacturing Employment?

With November's economic reports, it would almost make even the ultimate skeptic believe the economy's turned the proverbial corner. Early last month the Labor Department not only reported a decline in the jobless rate, it also said the economy created 12,000 jobs during the month, on the heels of rising an additional 125,000 in September. And, near the month's end, the Commerce Department revised 3rd quarter growth upward to a 20 year high of 8.2%.
However, from this column's perspective, the most optimistic news came this (Monday) morning, when the Institute of Supply Management releases its report on Manufacturing activity showing, not only the continuation of growth in manufacturing, but also growth in sector employment for the first time in over three years (we'll see if it registers in this Friday's jobs' report). Even consumer confidence experienced a pre-holiday turnaround.

Economic growth
The rise in Gross Domestic Product in the third quarter was revised to 8.2 percent, making it the fastest growing quarter since the beginning of 1984, as capital spending (rather than consumer spending) providing the major impetus. That's not to say consumers didn't do their part. In fact, consumer spending was up 6.4%, well above the 2nd quarter rate of 3.3%. However, investment by businesses rose 18.4%, following a rise of 15.4% in the previous quarter.
However, we'd be remiss if we didn't note housing's role. Spending on residential projects soared 22.7%, up dramatically from 6.6% in the 2nd quarter.

Employment/Manufacturing
  Not only did the economy create over a quarter million jobs in the 2 months, it experienced a notable decline in filings for unemployment claims. In fact, during Mid-November, the four-week average in claims reached its lowest level in 19 months, and was 100,000 below its peak in April.
  However, despite the good news on jobs, manufacturing employment continued to erode in October, making this morning's Institute for Supply Management (ISM) report so heartening. Not only did the index show the sector's activity growing faster than expected at 62.8% (any reading above 50 displays growth), its employment component hit 51, meaning it was growing for the first time in 38 months, with eight industries showing growth. And, in another positive sign for the immediate future, ISM's "new order" component was up to 73.7, the highest in any segment.
   While the earlier reports seemed to have little impact on the financial markets, the response was dramatic this morning. By mid-day, stocks were up dramatically, and 10 year bond yields were approaching 4.5%.

Michigan’s Jobs Grew
Despite being hit far worse than the U.S. as a whole in recent years, there was some semblance of good news for the state in recent months. Michigan, like the nation, experienced an increase in employment in September and October, making it only the second time since ‘00 that the economy increased jobs 2 consecutive months.

Economic Indicators
More “good” news came from the Conference Board’s index of leading indicators, rising at a 5.7% rate for the six months ending October 31st. Perhaps equally as notable was that all ten components of the index showed improvement throughout the half year period.

Housing Industry Update:

   Despite headlines noting sales of, both, new and existing homes fell in October, the month was another exceptional period for housing, whether we look at it from a national, state or local perspective.
   First of all, housing starts surged to a rate of 1.96 million units while building permits soared to a 1.973 million rate. But more notable was single family activity rising to its highest pace ever, 1.617 million units, bringing ‘03’s ten month average to 1.461 million, up 7.6% from 2002’s record breaking level. Furthermore, looking at the past 14 months, we find only 1 where the rate fell below ‘02’s level.
   And, while home sales retreated from all time high levels, they remained well above the previous year end records. For example, the National Association of Realtors reported that sales of existing homes fell 4.9% to a rate of 6.35 million.
   However, that represented the fourth consecutive month that sales were above the 6 million level, and bring the 10 month rate to 6.07 million, which is 9.1% above the year end record set last year.
   And, while new single family sales fell to their lowest level in the past five months, they continued above 1.1 million units, bringing the average rate for the year to 1.073 million, which is 10.3% last year’s record level of 973,000 units.

Since Commerce Department (U.S) reports are estimates, it’s difficult to know what to make of data suggesting Michigan’s housing activity had it strongest September and October period ever this year. According to the data, 9,441 single family permits were issued during the 2 months, 23% above the same months in ‘99 when an all time record 45,400 permits were issued during the year. In fact, in a year to date comparison, permits are running 400 above that record setting year.
Considering the state’s economy has been hit substantially harder than the nation’s as a whole, it’s somewhat of a surprise. Furthermore, the state’s housing activity hasn’t come close to approaching its 1999 level since the turn of the century. However, it would make sense under the premise that the rest of the nation is running more than 12% ahead of ‘99.

As we posted on the web two weeks ago, Housing Consultants’ data showed Southeast Michigan activity up 9.8% (rentals excluded) and local activity up 6.5% above ‘02 levels. The federal report is quite close, as all of “Metro-Detroit” is up 7.4% for single family, while the Flint subsection is up 9.9% ... however, while the Flint area’s single family permits are at their highest level of the decade, total permits are at their lowest as only 125 rental permits issued.

Look Here for Previous Issues of Veritas

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, 2003 - 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")